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Delphi and Its Workers in the Wake of Fiscal Crisis
Summary: The nation's largest supplier of mobile electronics and transportation and systems components for the automotive industry, Delphi has had to pursue cuts in the wake of fiscal losses. Delphi has improperly handled this situation with regard to their labor force, as the company demanded major concessions from the UAW and threatened to file for bankruptcy if the union rejected the demand. Rather than make demands to its workers, Delphi needs to seek compromise, as it is the only way for the company to emerge from their fiscal crisis without creating total hostility among its workers.
Delphi is the nation's largest automotive supplier. The Troy-based company is a self described world leader in mobile electronics and transportation components and systems technology. Lately, however, their leadership with regards to their own employees has been defunct. Faced with fiscal losses, they pressed for cuts. These of course would have to come from the company's blue collar workers and would be very significant, even up to a 60% decrease in hourly pay. The alternative would be for the company to file for bankruptcy. Before this, Delphi's 33,000 union workers' average wage-and-benefit package was $65 an hour. The UAW rejected a demand to cut workers' pay package to $16-$18 an hour. In keeping with earlier threats, Delphi filed for Chapter 11 bankruptcy.
While this issue may not directly affect me, it is very important to me. First, this issue affects more than those asked to take drastic pay cuts. Delphi is a...
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This section contains 582 words (approx. 2 pages at 300 words per page) |
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