NEW YORK - Bankrupt auto parts maker Delphi Corp. won court approval yesterday for its attrition agreement with former parent General Motors Corp. and the United Auto Workers union.
The deal frees Delphi to offer GM-funded retirement incentives to about 13,000 UAW members, allowing 5,000 a chance to return to GM factory jobs.
Delphi has described the plan as a first step to cutting wage and benefit costs and reversing losses in its U.S. operations.
Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. Comments that violate these standards, or our privacy statement or visitor's agreement, are subject to being removed and commenters are subject to being banned. To post comments, you must be a registered user on toledoblade.com. To find out more, please visit the FAQ.