| Buyouts approved for thousands of auto associates |
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| Written by Bill Tipple | |
| Saturday, 10 June 2006 | |
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Delphi says it's reached a deal with the United Auto Workers union and General Motors to offer buyouts to all hourly employees. The buyouts expand early retirement incentives announced in March. The previous agreement offered retirement incentives for workers with at least 27 years of service. Under the new agreement, workers with more than ten years of service can receive $140,000 buyouts. Those with fewer years can receive half that. The deal would also expand a preretirement option to include workers with 26 years of service. Delphi is GM's largest supplier and has sought bankruptcy protection. GM and Delphi are each paying half the cost of the buyouts. Delphi employs about 13,000 workers in Ohio in the Dayton, Warren, Columbus and Sandusky areas. |
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Delphi reaches deal with UAW and GM on buyouts for hourly workers.
