Judge Rules on Delphi Retiree Benefits

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Published: 3/12/2009 8:01 am

Updated: 3/13/2009 10:31 am

A major blow to Delphi retirees. A bankruptcy judge in New York has ruled the company is allowed to end health care and life insurance benefits for retirees.

The 15,000 retirees argued that General Motors had promised them lifetime medical coverage, but the judge ruled that bankruptcy laws allow Delphi to cancel those benefits.

The company says it will save $35 million this year with the cuts.

Benefits for the retirees will run out on April 1.

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charlie - 3/12/2009 9:31 AM

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What a crock! Hey judge, did you give up your benefits too? If anything is going to be guaranteed in this country it should be retirement packages. I will say again...this should never be allowed to happen. Shame on you judge and shame on the Delphi/GM big wigs.

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