Delphi Corp. Continues Restructuring Discussions with Major Unions and General Motors

Strategic Insights -

Delphi Corp. continues to engage in comprehensive restructuring talks with its major unions and General Motors Corp. in a bid to address the company's existing U.S. legacy liabilities and the resulting high-cost structure of its U.S. operations going forward. Despite the ongoing discussions, the company has stated that it will not comment further on the matter until a path is chosen for implementing the restructuring plan. As Delphi's chairman and CEO, Robert S. "Steve" Miller, emphasizes, the company is committed to achieving a successful restructuring of Delphi, one way or another.

Key Takeaways:

  • Delphi Corp. is engaged in comprehensive restructuring talks with its major unions and General Motors Corp. to address the company's existing U.S. legacy liabilities and high-cost structure.
  • The company has stated that it will not comment further on the matter until a path is chosen for implementing the restructuring plan.
  • Delphi's chairman and CEO, Robert S. "Steve" Miller, emphasizes the company's commitment to achieving a successful restructuring of Delphi, one way or another.
  • The company has been working on the restructuring for quite some time and has been in discussions with stakeholders for an extended period.
  • Delphi's board is committed to achieving a successful restructuring of the company.
  • The restructuring discussions involve addressing Delphi's U.S. legacy liabilities and resulting high-cost structure in the U.S.

Statistics:

  • The company has been working on the restructuring for an extended period.
  • The restructuring talks involve Delphi's major unions and General Motors Corp.
  • The company has a high-cost structure in its U.S. operations, which is a key issue in the restructuring discussions.

Sources:

  • PRNewswire-FirstCall, "Delphi Corp. Continues Discussions with Major Unions and General Motors on Comprehensive Restructuring Programme" (Sept. 27, 2007)
  • Delphi Corporation, "Media Contact" (http://www.delphi.com/media)