Delphi CEO Confident Co Can Reach Agreement With Workers
WASHINGTON (AP)--Delphi Corp. (DPH) Chairman and CEO Robert S. "Steve" Miller said Friday that the proposal to unions by the country's largest auto supplier was not intended to provoke a strike and that he remains confident a deal can be reached in the coming months.
Miller, meeting with reporters in Washington, said Delphi workers "understand that no good can come from a strike."
"We hope to arrive at an equitable settlement without court-authorized rejection of the labor contracts. Rejection results in a free-for-all wherein management can impose contract modifications, and the union is free to strike. Nobody wants to end up there."
Miller said he had seen no indications of work slowdowns at U.S. plants since the company's bankruptcy filing earlier this month, but he recognized that many workers are upset with him personally.
"They're very angry with me. You ought to see the e-mails I get ripping at my hide," Miller said.
He said "not all my plants are going to survive this," but said no decisions have been made on any of the facilities.
Miller met with reporters to discuss his company's attempts to emerge from bankruptcy protection and reach an agreement with its labor unions. Delphi, a former General Motors Corp. (GM) subsidiary, wants the United Auto Workers to accept pay cuts of more than 60% for hourly workers and give up health and pension benefits.
Under the proposal, the Troy, Mich.-based company would cut base wages to between $9.50 and $10.50 an hour for production workers and $19 for skilled trades workers. New production workers would start at a base rate of $9 an hour. Delphi hourly workers currently earn $27 an hour or more.
The proposal would also freeze Delphi's pension plan and accept no new participants after Jan. 1. Delphi also could reduce retiree benefits or terminate the pension plan, and hourly workers would be asked to pay health care deductibles for the first time.
The UAW, which represents most of Delphi's approximately 34,000 U.S. hourly workers, has said the plan "displays a total lack of concern" for workers.
(END) Dow Jones Newswires
10-28-051437ET
Copyright (c) 2005 Dow Jones & Company, Inc.
Copyright (C) 2005 Dow Jones & Company, Inc. All Rights Reserved.
Delphi CEO Confident Co Can Reach Agreement With Workers
WASHINGTON (AP)--Delphi Corp. (DPH) Chairman and CEO Robert S. "Steve" Miller said Friday that the proposal to unions by the country's largest auto supplier was not intended to provoke a strike and that he remains confident a deal can be reached in the coming months.
Miller, meeting with reporters in Washington, said Delphi workers "understand that no good can come from a strike."
"We hope to arrive at an equitable settlement without court-authorized rejection of the labor contracts. Rejection results in a free-for-all wherein management can impose contract modifications, and the union is free to strike. Nobody wants to end up there."
Miller said he had seen no indications of work slowdowns at U.S. plants since the company's bankruptcy filing earlier this month, but he recognized that many workers are upset with him personally.
"They're very angry with me. You ought to see the e-mails I get ripping at my hide," Miller said.
He said "not all my plants are going to survive this," but said no decisions have been made on any of the facilities.
Miller met with reporters to discuss his company's attempts to emerge from bankruptcy protection and reach an agreement with its labor unions. Delphi, a former General Motors Corp. (GM) subsidiary, wants the United Auto Workers to accept pay cuts of more than 60% for hourly workers and give up health and pension benefits.
Under the proposal, the Troy, Mich.-based company would cut base wages to between $9.50 and $10.50 an hour for production workers and $19 for skilled trades workers. New production workers would start at a base rate of $9 an hour. Delphi hourly workers currently earn $27 an hour or more.
The proposal would also freeze Delphi's pension plan and accept no new participants after Jan. 1. Delphi also could reduce retiree benefits or terminate the pension plan, and hourly workers would be asked to pay health care deductibles for the first time.
The UAW, which represents most of Delphi's approximately 34,000 U.S. hourly workers, has said the plan "displays a total lack of concern" for workers.
(END) Dow Jones Newswires
10-28-051437ET
Copyright (c) 2005 Dow Jones & Company, Inc.
Copyright (C) 2005 Dow Jones & Company, Inc. All Rights Reserved.
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