Delphi Asks Bankruptcy Judge for Permission to Stop Retiree Health Benefits - aftermarketNews

Delphi Asks Bankruptcy Judge for Permission to Stop Retiree Health Benefits

A hearing on the request is set for Feb. 24, according to an AP report.

DETROIT — Delphi Corp. has filed a request with the U.S. Bankruptcy Court, seeking permission to cancel healthcare and life insurance benefits for current and future salaried retirees.

According to a report from the Associated Press (AP), the parts supplier cited the steep downturn in the overall auto industry in recent months as the reason for its request. If the request is approved, Delphi said it would save about $70 million annually, or $200 million through 2011.

A hearing on the request is set for Feb. 24, according to the AP report.

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