US - Delphi has made no decision to terminate pension plans, despite speculation to the contrary, said Delphi chairman and CEO Robert Miller (pictured). The automotive parts giant has a pension deficit of about US$5bn and there has been heavy speculation that the company's filing for Chapter 11 bankruptcy would mean automatic termination of the plans, which Miller strongly denies.
“I have been involved in a leadership position in about ten corporate restructurings…and half of them involved Chapter 11,” he said. “Usually, the pension plans survived intact.” “At Delphi, w...
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