Delphi confirms that 12,600 workers are taking voluntary retirement

Delphi confirms that 12,600 workers are taking voluntary retirement

Delphi Corp. is one of the biggest auto part suppliers in the United States and is going through a hard time. The bankrupt company has now said that as many as 12,600 employees represented by the United Auto Workers union have agreed to retire through a plan aimed at getting the company back to profitability.

However, this number is not finalized yet as the workers still have time to revoke their decision.

As part of the deal offered by the company, workers with 30 years’ experience could retire immediately with full benefits and take $35,000 home. Workers with 27 years would receive monthly payments and retire with full benefits when they reached 30 years.

Delphi is hoping to cut about four-fifths of its U.S. hourly worker base, which consists of almost 33000 employees. They would also be closing down 21 of 29 U.S. union plants.