Dana Corp. needs to cut labor costs and retirement obligations to emerge from bankruptcy and compete with cheaper overseas suppliers, lawyers for the auto parts maker argued Tuesday in asking for the right to make the cuts. The company asked a judge to allow it to reject collective bargaining agreements that cover about 5,200 active union employees. Dana also proposes eliminating retiree health benefits for union workers. U.S. Bankruptcy Judge Burton Lifland urged the company and unions to negotiate more.
April 04, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Dana Corp. needs to cut labor costs and retirement obligations in order to emerge from bankruptcy and compete with cheaper overseas suppliers, lawyers for the auto parts maker argued Tuesday in asking for the right to make the cuts.
U.S. Bankruptcy Judge Burton Lifland urged the company and unions to negotiate more.
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