Delphi Attains Tentative Accord with Four Additional Unions and General Motors
Company Reaches Tentative Settlement with IUE-CWA and GM
Company Signs Memorandum of Understanding with IAM, IBEW, IUOE and General Motors
Efforts Continue to Reach Pact with USW
TROY, Mich. — Delphi Corp. continues to make significant progress on its transformation initiatives and has signed a Memorandum of Understanding with four additional unions representing certain U.S. hourly employees. The company reached tentative pacts with the IUE-CWA (International Union of Electronic, Electrical, Salaried, Machine and Furniture Workers-Communications Workers of America), International Association of Machinists (IAM), International Brotherhood of Electrical Workers (IBEW), International Union of Operating Engineers (IUOE) and General Motors covering workforce transition, legacy pension items as well as other comprehensive transformational matters. The agreements are subject to union ratification and approval by the U.S. Bankruptcy Court.
“This series of tentative labor 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. “ We believe these agreements, if ratified, provide additional traction towards our emergence.”
Delphi will not comment on the details of the tentative agreements, pending ratification by the respective unions.
For more information about Delphi, visit www.delphi.com.
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