Delphi Corporation said that the Bankruptcy Court of the Southern District of New York has adjourned hearings on the company's motions to set aside its labor contracts as the company's efforts to restructure continue to inch ahead.
More than 20,000 of Delphi's production workers, represented by the United Auto Workers and International Union of Electrical Workers-Communications Workers of America, have signed up for early retirement or buyouts.
John Murphy, an analyst with Merrill Lynch, said in research note that the buyouts have reduced the chances of a strike that could do serious damage to GM. However, UAW President Ron Gettelfinger has refused to rule out a strike at this point.
Meanwhile, the company also is moving head with plans to sell or shutter 21 of its 29
Reports also indicate that the Packard Electric complex in
Meanwhile, the unions representing Delphi employees continue to resist any effort to nullify their labor contracts and insist any move in that direction could lead to a strike that would shut off the flow of Delphi-made parts to General Motors Corp. Delphi officials, however, have said repeatedly they prefer to reach a "consensual" agreement with the UAW and other unions.
As a practical matter,
Bankruptcy Judge Robert Drain has scheduled another conference on October 19 to discuss the status and scheduling hearings on
A spokesman for the United Auto Workers said that the union was prepared to present its arguments against canceling the contracts to Judge Drain. The hearings were suspended in June after
Before the postponement, the unions were scheduled to begin arguing their case against the cuts Sept. 18. Part of the union's case is that
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