GM’s chief financial officer, Fritz Hender, told a group of automotive industry analysts that he believes GM can reach a framework agreement with Delphi in 30 to 60 days, according to Dow Jones.
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Delphi workers are threatening to strike if Delphi, currently in Chapter 11 bankruptcy, cancels existing labour contracts as it is seeking to do through a bankruptcy court. This would have a devastating effect on Delphi’s major customer, GM.
GM is negotiating with the United Auto Workers union and Delphi and wants to secure a labour agreement with Delphi and a new supply deal.
According to Dow Jones some analysts thought the 30 to 60 day time frame was optimistic, given its complexity.
However they also tended to believe that an agreement will be reached and that a strike at Delphi is unlikely.
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