Restructuring Delphi said on Monday it has signed a memorandum of understanding with four additional unions representing US hourly employees.
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The company agreed tentative pacts with the IUE-CWA (International Union of Electronic, Electrical, Salaried, Machine and Furniture Workers-Communications Workers of America), International Association of Machinists (IAM), International Brotherhood of Electrical Workers (IBEW), International Union of Operating Engineers (IUOE) and General Motors covering workforce transition, legacy pension items as well as other comprehensive transformational matters.
The agreements are subject to union ratification and approval by the US bankruptcy court.
“This series of tentative labour agreements demonstrates Delphi’s continued commitment to achieving a consensual resolution with all parties in its Chapter 11 cases,” said Delphi’s chief restructuring officer John Sheehan.
“We believe these agreements, if ratified, provide additional traction towards our emergence.”
Delphi said it would not comment on the details of the tentative agreements, pending ratification by the respective unions.
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By GlobalDataLast month the powerful United Auto Workers Union ratified a deal with Delphi that would see some wages cut and plants closed but preserve thousands of jobs overall.
