By Leftlane Staff
Saturday, Jun 10th, 2006 @ 10:56 am

Delphi, former owner General Motors, and the United Auto Workers came to an agreement Friday that will offer all of Delphi’s UAW workers buyouts. Previously, only 13,000 had been offered the deal. Now, the remaining 10,000 are also eligible. The program offers $140,000 for employees with more than 10 years seniority or credited service and $70,000 for employees with less than 10 years seniority and pro-rated payments for non-traditional employees. In light of the progress, Delphi has asked the judge in its bankruptcy hearings to adjourn a motion that would void all of Delphi’s union contracts. The UAW has long maintained voiding the contracts would result in a strike. Analysts say a strike at Delphi would could cause GM to grind to a halt and lose billions.

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