Delphi, G.M. and U.A.W. Reach Buyout Deal on Hourly Workers - New York Times

It's Official: GM, Delphi & UAW Reach Deal

This just in at NYT.com:

The plan, which is subject to approval by a bankruptcy court, allows up to 5,000 workers to flow back to GM, Delphi's former parent company. Up to 13,000 U.S. hourly workers also will be eligible for a lump sum payment of up to $35,000 to retire.

Under the plan, GM would pay for the buyouts and also would assume some post-retirement benefits for Delphi employees who go back to work for GM.

How much will the buyout cost? Where will the money come from? We shall see.

Delphi, G.M. and U.A.W. Reach Buyout Deal on Hourly Workers - New York Times