US: Dana petitions to end labour contracts and retirement benefits

摘要

BANKRUPT automotive components supplier Dana is seeking to terminate labour contracts and retirement benefits for employees represented by two of its unions, The Associated Press reports. Dana claims that cost reductions are essential for the company to emerge from bankruptcy protection. Attorneys for Dana have sought permission from the Bankruptcy Court to reject collective bargaining agreements with the United Auto Workers and United Steelworkers. In a filing with the bankruptcy court, Dana stated that it needs to reduce labour and benefit costs to emerge from bankruptcy as a competitive, viable company.