Delphi Workers Accept Pay Cuts
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Workers at the bankrupt Delphi Corporation approved an agreement today that would eliminate a long-time job security protection and steeply cut their hourly pay.
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Fears of a possible airline strike during the Christmas holiday eased yesterday when US Airways ground employees agreed to take 13 percent pay cuts to help bail out their employer.
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Roughly 62 percent of bankrupt auto  parts maker Delphi Corp.'s U.S. union workers have opted out of  the company through retirements or buyouts, the company said on  Tuesday.
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The United Auto Workers is expected to announce results of a member vote on Friday on a deal that auto parts maker Delphi Corp.  says it needs to exit bankruptcy, with initial results from the union's local voting units pointing toward support.
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The company reaches a licensing agreement with Korea Delphi.
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THE SITUATION: Squeezed by rising materials and health care costs and lower vehicle production, No. 1 auto supplier Delphi Corp. plans to cut 8,500 jobs worldwide next year after eliminating more than 9,000 in 2004.
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The United Auto Workers and Delphi, the country's largest auto parts supplier, reached a tentative agreement yesterday on a comprehensive labor deal that could pull the troubled company out of bankruptcy and prevent a potentially crippling strike that could shut down General Motors.
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The United Autos Workers union said on Tuesday that bankrupt parts maker Delphi Corp.'s  management will be forced to meet with the union to reach a settlement.
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Struggling US car parts firm Delphi reaches a union deal to cut wages and exit bankruptcy protection.
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So many jobs have been cut by the auto parts giant Delphi that workers sound almost existential about their future.
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Unions representing check-in staff and baggage handlers at British Airways have welcomed a pay deal which averted an August Bank Holiday strike.
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Investors sold off shares of auto parts makers Friday after Delphi Corp. issued a profit warning and said it would cut nearly 5 percent of its work force next year.
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Computer Associates (Quote, Chart) said it would cut 800 employees from its payroll in order to save $70 million per year. The move is part of the Islandia, NY-based management software maker&#39;s plan to streamline operations.
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(December 10, 2004) - Delphi Corp. said Friday it plans to cut 8,500 jobs â-r 4.6 percent of its total work force â -ldwide next year as part of an ongoing restructuring.
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Visteon Corp., the second-biggest US maker of auto parts, is offering buyouts of as much as a year&#39;s pay to US salaried workers to help cut costs.
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Paychecks stay the same for the top two, but compensation changes for other Microsoft workers as stock grants replace options.
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Delphi workers pass a rescue plan the car parts firm says is vital for it to emerge from bankruptcy protection.