Delphi Corp. has threatened to void its labor contracts if the UAW does not accept major wage cuts by mid-December. Delphi's autoworkers are paid $27 an hour, and their total wage and benefit packages are worth about $65 an hour. Delphi has proposed cutting that by about 60 percent. The chairman of the company says he is considering possibly cutting his own base salary of $1.5 million.
See "Delphi Workers Might See Wage Cuts in 2006", Associated Press, Los Angeles Times, October 12, 2005