Delphi wins court approval

Embattled U.S. Parts maker Delphi Corp. has been told it can offer as many as 13,000 hourly employees a one-time payout of $35,000 to retire, in a bankruptcy court ruling late last week
The ruling is seen as something of an important milestone in its effort to scale back staff amid falling production.
Troy, Mich.-based Delphi, filed for bankruptcy protection in October and since, has been trying to divest itself of what it says are unsustainable labor agreements, negotiated under former parent company General Motors.
According to a report, the one time payments of anywhere between U.S. $35,000 and $140,000 depending on seniority and heath packages, will be funded by GM which agreed to do so under a broader labor deal.
In a controversial move last week, Delphi filed a request with the bankruptcy court seeking permission to void its labor contracts and retiree benefits. The motion met with a strike threat form the UAW. A hearing on that particular issue is set for May 9.