By Doug Cunningham

The UAW has reached an agreement with Delphi and GM that offers a variety of early retirement options, buyouts and “flowbacks” of Delphi workers to GM. Delphi workers will be offered $35,000 for normal or early retirements retroactive to October of 2005, a “Mutually Satisfactory Retirement” for workers 50 or older with ten or more years on the job and buyouts of $140,000 for workers with ten or more years who agree in exchange to sever all ties with GM and Delphi. Called the GM and Delphi Special Attrition Program the agreement must be approved by a bankruptcy court since Delphi has filed for bankruptcy, But it avoids an attempt by Delphi to void UAW contracts and thus prevents a strike that would cripple both Delphi and GM. The UAW says it will schedule a meeting soon where details of the program will be discussed. The union did not hold a news conference to announce the agreement. The UAW says it will file its own motion with the bankruptcy court addressing the key issues in Delphi’s bankruptcy and in support of this agreement. Delphi will file a separate motion, but also asking the bankruptcy court to approve the agreement.