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| The Pub For General Automotive Related Talk |
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01-04-2006, 02:10 PM
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Regular Member
Join Date: Dec 2005
Location: Canberra
Posts: 185
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Delphi actions could bankrupt GM.
March 31, 2006 Delphi looking for deep wage cuts Delphi's statement Friday said it is proposing its union members take a pay cut of nearly 40 percent, though that would be cushioned by a $50,000 one-time payment to compensate for concessions. It is proposing cutting hourly pay nearly 19 percent to $22 from $27 right away, and then to $16.50 an hour in September 2007, when the current labor deal is due to expire. The $50,000 "wage buydown" payment would be made then. As steep as the wage cut proposal is, Delphi's demand Friday is less severe than the 54 percent cut to $12.50 an hour that Delphi was originally demanding shortly after its Oct. 8 bankruptcy filing. The plant closing or sale plans would also mean a nearly two-third cut in hourly employment, to 12,000 workers at the eight plants Delphi intends to keep in the United States, down from 32,000 union members now. http://money.cnn.com/2006/03/31/news...lphi/index.htm |
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Could this be our future in Australia
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