Delphi announces deal with IUE-CWA, GM on buyouts

DETROIT, June 17 — Delphi Corp. has reached an agreement with its second-largest union and General Motors Corp. to offer buyouts to hourly workers that is similar to an earlier deal with the United Auto Workers union.

The auto parts supplier announced the agreement with the International Union of Electronic Workers-Communications Workers of America and GM, Delphi's former parent and its largest customer, late Friday.

...

About 8,000 hourly workers represented by the IUE-CWA are eligible to participate. Some may be offered a lump sum payment of $35,000 to retire, Delphi said, while eligible employees may decide to accept buyout packages ranging from $40,000 to $140,000.

The plan also permits the transition of up to 3,200 Delphi workers represented by the IUE-CWA to GM for retirement purposes, Delphi said.

http://famulus.msnbc.com/famulusgen/ap06-17-052821.asp?t=apnew&vts=61720060751