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Delphi Corp. plans meetings today with salaried workers at the company’s Electronics & Safety Division in Kokomo – meetings that employees fear will precede massive layoffs.
Rumors of sweeping layoffs are unfounded, a Delphi spokesman told the The Kokomo Tribune.
The Troy, Mich., auto parts maker learned Friday that that it must shift $1.5 billion in unfunded pension obligations to its former parent, General Motors Corp., by the end of September. The news came after a financing package aimed at helping Delphi emerge from bankruptcy protection fell through in April.
Delphi has 4,000 workers at the Kokomo division.
In the past decade the company has eliminated several hundred workers per year.
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