Delphi Corporation
ORG
Delphi Corporation Delphi
The Delphi Corporation operating in bankruptcy said that it would keep talking with its unions and General Motors in a bid to reach a deal on lower wage and benefit rates. Delphi has twice delayed asking a bankruptcy court for the ability to void its contracts to continue negotiations. G.M. estimated that Delphi's bankruptcy could cost it up to $12 billion. The union's president, Ron Gettelfinger, is seeking re-election, and has vowed repeatedly to fight for Delphi workers' rights. The Delphi Corporation, which is operating in bankruptcy, said that it would keep talking with its unions and General Motors in a bid to reach a deal on lower wage and benefit rates. If there is no deal, Delphi said, it will ask a judge for permission to reject its labor contracts with its six unions, and also ask to terminate its employee pension plans. Delphi has twice delayed asking a bankruptcy court for the ability to void its contracts, in order to continue negotiations. Delphi's biggest union, the United Automobile Workers, has threatened to strike the parts company if Delphi seeks to terminate its contracts. Delphi, which was part of G.M. until 1999, filed for Chapter 11 protection in October.