UPDATE 1-Judge clears Delphi plans to cut US hourly workers


(Adds detail, background) NEW YORK, June 29 (Reuters) - A U.S. bankruptcy judge on Thursday approved buyouts and early retirements for workers at auto parts maker Delphi Corp.'s two largest unions, a centerpiece of its plan for massive job cuts in the U.S. "Disapproval of this program ... would be a serious disruption of the debtor's attempt to resolve its labor issues," Judge Robert Drain said in his ruling. The agreements, which will cost the company and former parent General Motors ...

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