posted
2/11/2009
Clarification on Delphi Retiree Benefit Announcement
Last week Delphi petitioned the bankruptcy
court to discontinue SALARY retiree benefits. If the court grants
this motion, it will mean the end of salaried retiree benefits.
This in no way impacts HOURLY retiree benefits. Under the GM Benefit
Guarantee, Delphi’s hourly retirees were transferred to the
GM system because of the UAW contract. UAW retirees will see no
change in their benefits as a result of Delphi’s action.
Some of the local media have failed
to make the distinction between hourly and salary benefits when
reporting this story. Remember, Delphi’s court request has
no bearing on hourly retiree benefits.
With that said, we stand oppose to
Delphi’s action to strand 15,000 salaried employees without
health care or life insurance. Delphi has stated the company could
save $200 million by 2011 if they are allowed to stop making salaried
benefit payments on April 1, 2009. This is the same company that
has paid over $800 million in bonuses to top executives since filing
for bankruptcy. There are no limits to the greed and destruction
of human capital this company will go through to pad the pockets
of those at the top. Our thoughts and prayers go out to those salaried
retirees who stand to lose their benefits. |
