Tower Automotive Inc., struggling to emerge from a Feb. 2, 2005, bankruptcy filing and facing a potential strike by its unionized workers, is asking the U.S. Bankruptcy Court for the Southern District of New York to tear up its existing labor contracts. The move reportedly could save the Novi, MI-based automotive structural component supplier as much as $40 million a year in hourly wages and benefits. About 3,000 of the company’s 4,500 hourly workers at several facilities already have ...
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