DETROIT, Nov. 29 (UPI) -- Struggling U.S. car parts maker Delphi Corp. has delayed plans to cut wages, reducing fears of a strike.
Delphi had planned to file a motion Dec. 16 with bankruptcy court asking to be relieved of its labor contracts, the Detroit Free Press reported Tuesday.
But Monday Delphi backed down, saying it would wait until at least Jan. 20, a decision that followed a meeting between Delphi's chief executive and his counterpart at General Motors Corp., which is Delphi's biggest customer.
"We came to the mutual conclusion that the deferral of the court motion on rejecting the labor agreements ... could be in the best interest of all three parties," said Delphi head Steve Miller said.
GM, which is Delphi's biggest customer, agreed to temporarily forgo price reductions it had demanded on parts it buys from Delphi.