Dana seeks to terminate labor contracts
Dana Corp. sought to terminate labor contracts and retirement benefits for employees represented by two of its unions, as lawyers argued Monday that the cost cuts are an essential part of its exit from bankruptcy protection. The Toledo, Ohio-based auto parts maker also announced settlements that affect about 6,300 non-union retired workers and a tentative deal with a third union, the International Association of Machinists and Aerospace Workers. Lawyers moved forward in asking a judge for permission to reject collective bargaining agreements with the United Auto Workers and United Steelworkers. Dana, one of the largest auto parts makers in the world, said it needs to reduce labor and benefit costs to emerge from bankruptcy as a competitive, viable company.
See "Dana seeks to terminate labor contracts", Vinnee Tong, Chicago Tribune, March 11, 2007