Unions make huge concessions to Delphi

| 7/6/2007

The bankrupt auto parts maker Delphi has been handed some huge concessions by the UAW and Steelworkers’ unions.

Nearly 70 percent of the workers voted in favor of a contract that will cut hourly wages from as much as $27 to as little as $14, The Associated Press reported.

The employee’s share of health care costs will also increase.

Some observers speculate the unions accepted the concessions rather than take their chances with a bankruptcy judge, who could have ordered even more drastic cuts.