Delphi presses workers to work for less to boost profits - 08/10/05

By Doug Cunningham

Delphi, the auto parts maker spun off from General Motors in 1999, is pressuring workers for wage cuts under the threat of bankruptcy if they don't agree to take less for their work. Some workers at the Flint, Michigan plant believe the company has mismanaged its money. They don't want to give up any wages or see their pensions cut. Delphi says it lost $338 million in the last quarter compared with a profit of $143 million in the same quarter a year ago. "