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DETROIT (AP) - Struggling auto parts maker Delphi Corp. reached a tentative wage-cutting agreement Friday with its largest union in what may set the pattern for future pay in the U.S. automotive parts industry.
The deal, which still must be voted on by Delphi members of the United Auto Workers, was signed just before a 1 p.m. meeting between the UAW leadership and presidents of the union's locals.
Details of the agreement were not released, but Delphi said in a statement it's a "significant milestone" in the company's quest to emerge from Chapter 11 bankruptcy protection. The union also said details are being withheld until a ratification vote by members.
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