UAW, Delphi Deal Calls for Lower Pay, Buyouts

A deal between the United Auto Workers and the struggling auto parts maker Delphi calls for the company to slash workers' pay from $27 to $14 an hour. It will also shut down at least a dozen sites. And it will offer workers buyouts in an attempt to emerge from bankruptcy and avoid a strike.

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RENEE MONTAGNE, host:

NPR's business news starts with slashing costs at Delphi.

Over the weekend, reports emerged about a deal between the United Auto Workers and Delphi, the struggling auto-parts maker. The company will slash its workers' pay from $27 to $14 an hour. Delphi will shut down at least a dozen sites and it will offer workers buyouts in an attempt to emerge from bankruptcy and avoid a strike.

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