Delphi Announces Preliminary Acceptance Results for UAW-GM-Delphi Hourly Special Attrition Plan
Release Date: June 26, 2006
Delphi Corp. today provided preliminary acceptance results of the UAW-GM-Delphi Hourly Special Attrition plan, announced March 22, 2006. Under the provisions of the plan, approximately 12,600 UAW-represented employees have elected one of the retirement options available under the plan. Results are preliminary as employees who signed up within the last 7 days may still revoke their decision.
We are pleased with the strong employee interest in the attrition plan and appreciate the leadership and cooperation of the UAW at all levels in communicating the provisions of the plan. Implementation of this plan, along with the supplemental UAW-GM-Delphi hourly attrition plan, are important steps in enabling Delphi to transform its workforce to a competitive labor cost structure, by accelerating necessary attrition and reducing employee concerns over the impact of a negotiated consensual resolution.
Pending court approval, we expect additional employees to select options available through the Supplemental UAW-GM-Delphi Hourly Special Attrition Program announced June 9, 2006, which allows for buyouts and a pre-retirement program for employees with 26 years or more of credited service.
Lindsey Williams
[1] 248.813.2528
