Delphi Can Amend Deals With Suppliers
Delphi Corp. can enter into amended agreements with its crucial suppliers, a bankruptcy judge ruled, which may help the company cut costs and debt while continuing to supply automakers during its Chapter 11 restructuring.
The decision was one that Delphi and the United Auto Workers, which has been wrangling with Delphi over workers’ benefits, both supported.
The union, which represents 24,000 of Delphi’s 35,000 hourly U.S. workers, said the motion would prevent production interruptions that jeopardize jobs.
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