This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.

You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/6932688.stm

The article has changed 2 times. There is an RSS feed of changes available.

Version 0 Version 1
Delphi closer to new union deal Delphi closer to new union deals
(about 8 hours later)
US car parts firm Delphi looks set to complete a revised deal with a key union over pay - struck as part of its plans to avoid bankruptcy. US car parts firm Delphi says it has moved towards new workplace and pay contracts with a number of unions.
The agreement, with the 2,000-member International Union of Electrical Workers-Communication Workers, also includes changes to retirement options. They are International Association of Machinists, International Brotherhood of Electrical Workers and International Union of Operating Engineers.
The union's committee has unanimously recommended that its members give the proposal the go-ahead later this month. The deals, subject to union vote, are part of Delphi's bankruptcy exit plan.
A pact was made with the 2,000-strong International Union of Electrical Workers-Communication Workers on Sunday on workforce change, pay and pensions.
"This series of tentative labour agreements demonstrates Delphi's continued commitment to achieving a consensual resolution with all parties in its Chapter 11 cases," said John Sheehan, Delphi's chief restructuring officer.
The IUE-CWA's committee has unanimously recommended that its members give the proposal the go-ahead later this month.
Delphi earlier struck a deal with its largest union, the United Auto Workers.Delphi earlier struck a deal with its largest union, the United Auto Workers.
The firm filed for Chapter 11 US bankruptcy protection in 2005 after accumulating huge losses following its separation from General Motors in 1999.The firm filed for Chapter 11 US bankruptcy protection in 2005 after accumulating huge losses following its separation from General Motors in 1999.
Like other car firms, Delphi has suffered in the wake of cheaper competition from Asia.Like other car firms, Delphi has suffered in the wake of cheaper competition from Asia.
It hopes to emerge from bankruptcy before the year is over. Last week investors injected $2.55bn (£1.24bn) into the firm.It hopes to emerge from bankruptcy before the year is over. Last week investors injected $2.55bn (£1.24bn) into the firm.
Issues agreed in the latest union settlement include "an array of choices ranging from retirement options to buyouts and buy downs that allow our members to make the best decision for themselves and their families," said Jim Clark, president of the IUE-CWA.Issues agreed in the latest union settlement include "an array of choices ranging from retirement options to buyouts and buy downs that allow our members to make the best decision for themselves and their families," said Jim Clark, president of the IUE-CWA.