The Detroit News reported Wednesdaythat the UAW has rejected Delphi ...

TheDetroit News reported Wednesdaythat the UAW has rejected Delphi Corp.'s latest offer, saying that it would have a "devastating impact" onthe parts supplier's workers. However, in an effort to stave off Delphi's threat to begin voiding its labor contractsby Friday if a labor agreement hasn't been reached, the UAW offered an olive branch to the company, saying it waswilling to keep working on the issue with Delphi if the company withdraws its Friday deadline.

Should Delphifollow through on its threat to ask the court to void its labor contracts, UAW leaders indicated that a strike islikely. The tough talk led investors to hammerGM's stock price, which fell more than 4 percent in Wednesday morning trading. A strike would be devastating toGeneral Motors, Delphi's biggest customer.

[Sources: Detroit News, Reuters]

UAW rejects latest Delphi offer originally appeared on Autoblog on Thu, 30 Mar 2006 07:05:00 EST. Please see our terms for use of feeds.

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