UAW not pleased with Delphi executive bonus plan
July 16, 2006 8:33PM by Michael Savio
The United Auto Workers have called the proposed bonus plan for Delphi’s executive management excessive and have said if passes, it would complicate negotiations. Delphi receveived court approval to pay executive bonuses for the first half of 2006 and has asked a judge to extend the plan to the second half. They are also seaking approval to pay the bonuses for each successive six-month period it remains in bankruptcy.
Delphi has said it must make the payments to keep compensation competitive for executives. The UAW and other unions have filed objections with the court.
## Source: Reuters ##
Posted in: News, Delphi
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July 19th, 2006 at 1:55PM
[…] The United Auto Workers and five other unions vigorously objected to the extension, warning it could distract from negotiations over steep wage and benefit cuts Delphi is seeking as part of its reorganization. Delphi said it needs the plan to keep its top executives. The bonuses will go to 467 executives if earnings targets are achieved in the second half of the year. […]