The Offical Statement from the International...
OK my peeps, here's what was available from the international's website about the attrition plan...
IUE-CWA Reaches Agreement on Special Attrition Program at Delphi
June 16, 2006
More than 3,000 Members Eligible for Special Retirement Package; Others Can Get Buyout Payments from $40,000 to $140,000
TROY, Mich. – IUE-CWA reached agreement with Delphi and General Motors on a special attrition program aimed at providing "soft landings" to thousands of members who face potential plant closings or significant pay cuts as a result of Delphi's bankruptcy filing.
"We have made great progress in resolving the first part of a very complex puzzle," said IUE-CWA Automotive Conference Board Chairman Willie Thorpe, in announcing the agreement the day following his election to succeed previous chairman Henry Reichard, who passed away last week. "Our members now have options that can provide them with some financial security. Next our focus turns to crafting an agreement for those who remain in the plants that gives them a job worth having."
The package provides special retirement options for 3,290 members who can either take a $35,000 bonus for a normal or early retirement, take a 50 & 10 mutually satisfactory retirement or elect to participate in a special program where workers with between 26 years and less than 30 years can grow into retirement.
The union made gains in the buyout offerings by creating a third tier for workers compared with an earlier attrition program available to both traditional and competitive rate workers. Workers with at least 10 years' seniority can take a $140,000 buyout payment to sever ties with the company. Workers with between 3 and 10 years' seniority are eligible for a $70,000 payment, while those with between 1 year and 3 years' seniority can receive $40,000.
The attrition program must be approved by the bankruptcy court. The rollout will begin prior to then, but no payments will be made until the court has approved the program.
"IUE-CWA is committed to resolving our issues with Delphi at the bargaining table," said IUE-CWA President Jim Clark, who was a key participant in the talks. "Delphi must understand that getting a court to void our contracts doesn't get us where we need to go."
Court hearings on Delphi's 1113/1114 motion to void labor agreements and retiree obligations have been recessed until August 11. Dates to resume talks on wages, benefits and working conditions at IUE-CWA-represented facilities will be set early next week.
General Motors is a party to the attrition agreement. The corporation agreed to pay half of the buyout payments and cover post-retirement benefits for those retiring.
Keep your eyes peeled...
Dawn
IUE-CWA Reaches Agreement on Special Attrition Program at Delphi
June 16, 2006
More than 3,000 Members Eligible for Special Retirement Package; Others Can Get Buyout Payments from $40,000 to $140,000
TROY, Mich. – IUE-CWA reached agreement with Delphi and General Motors on a special attrition program aimed at providing "soft landings" to thousands of members who face potential plant closings or significant pay cuts as a result of Delphi's bankruptcy filing.
"We have made great progress in resolving the first part of a very complex puzzle," said IUE-CWA Automotive Conference Board Chairman Willie Thorpe, in announcing the agreement the day following his election to succeed previous chairman Henry Reichard, who passed away last week. "Our members now have options that can provide them with some financial security. Next our focus turns to crafting an agreement for those who remain in the plants that gives them a job worth having."
The package provides special retirement options for 3,290 members who can either take a $35,000 bonus for a normal or early retirement, take a 50 & 10 mutually satisfactory retirement or elect to participate in a special program where workers with between 26 years and less than 30 years can grow into retirement.
The union made gains in the buyout offerings by creating a third tier for workers compared with an earlier attrition program available to both traditional and competitive rate workers. Workers with at least 10 years' seniority can take a $140,000 buyout payment to sever ties with the company. Workers with between 3 and 10 years' seniority are eligible for a $70,000 payment, while those with between 1 year and 3 years' seniority can receive $40,000.
The attrition program must be approved by the bankruptcy court. The rollout will begin prior to then, but no payments will be made until the court has approved the program.
"IUE-CWA is committed to resolving our issues with Delphi at the bargaining table," said IUE-CWA President Jim Clark, who was a key participant in the talks. "Delphi must understand that getting a court to void our contracts doesn't get us where we need to go."
Court hearings on Delphi's 1113/1114 motion to void labor agreements and retiree obligations have been recessed until August 11. Dates to resume talks on wages, benefits and working conditions at IUE-CWA-represented facilities will be set early next week.
General Motors is a party to the attrition agreement. The corporation agreed to pay half of the buyout payments and cover post-retirement benefits for those retiring.
Keep your eyes peeled...
Dawn
posted by Spencemo @ 2:37 PM
1 Comments:
At 6/17/2006 9:40 PM,
Anonymous said…
Our fellow employees will soon be jamming resumes full of scintillating info such as "team player" and "master taper of outlets"...Woe to those who decide to stay, so far as we've seen no information on that particular facet. The market is screaming for stationary board operators.
So, once again we swim against the lunacy that avalanches us daily on the shop floor. Alas, I did see G. Monger wallowing in his miserable discontent in Plant 14. Aw.
Maybe I'll feel better about all this by Monday. Gazing out on the barren plains of Plant 15,
your humble observer of Delphi madness...
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