GM, UAW, Delphi agree on buyout deal

Newswire

DETROIT, March 22 (Reuters) - General Motors Corp. , bankrupt auto parts maker Delphi Corp. and the United Auto Workers union have agreed on a plan to provide early retirement buyouts to union members and allow up to 5,000 Delphi union members to move to GM through 2007, Delphi said on Wednesday. Delphi said 13,000 hourly union employees would be eligible for the buyouts, with some receiving lump sum payments of $35,000. Under the terms of the deal, which is subject to approval by a U.S. ...

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