Delphi, GM Reach Tentative Deal With UAW

Bankrupt supplier Delphi Corp. and former parent General Motors Corp. reach a tentative deal with the United Auto Workers union that would go a long way toward relieving a massive labor burden facing the companies.

Delphi says in a statement late Friday that the deal represents “a significant milestone” in its restructuring and “a major step” toward emerging from bankruptcy.

Details remain few, but the companies were motivated to strike a deal ahead of the summer ...