UPDATE 2-GM, Delphi reach UAW deal to speed worker retirement

Newswire

(Adds detail, analyst comment) CHICAGO, March 22 (Reuters) - General Motors Corp. and bankrupt former subsidiary Delphi Corp. will offer early retirement incentives to more than 125,000 factory workers, the companies said on Wednesday, after reaching a cost-cutting deal with the United Auto Workers union. Shares of GM were up over 2 percent on the New York Stock Exchange in response to the deal. Shares of Delphi, which trade on the over-the-counter Pink Sheets market, were down slightly. ...

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