The US bankruptcy court has approved four more settlements reached between Delphi and unions, leaving only steelworkers still at the bargaining table, as well as the sale of the catalyst business.
Go deeper with GlobalData
Judge Robert Drain of the court in Manhattan approved Delphi’s new labour agreement with the four unions, including the IUE-CWA, which represents more than 2,000 Delphi workers and had threatened to strike if a deal wasn’t reached, an Associated Press (AP) report said.
Drain was also reported to have approved the agreements Delphi reached with the International Association of Machinists, the International Brotherhood of Electrical Workers and the International Union of Operating Engineers.
IUE-CWA members haven’t ratified the settlement, but members of the other unions have already approved the deals, Delphi lawyer Jack Butler told the Associated Press.
Butler reportedly said the supplier is still negotiating with the United Steelworkers, which represents about 1,000 Delphi workers.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataDelphi has said the union settlements, a significant step toward the company’s exit from bankruptcy protection, cover work force transition, legacy pension issues and other “comprehensive transformational matters.” The bankruptcy court last month approved Delphi’s new labor agreement with its biggest union, the United Auto Workers, which represents 17,000 Delphi workers, the Associated Press noted.
The bankruptcy court also approved the $75m sale of Delphi’s catalyst business to Belgian metals company Umicore, the AP report added.
