The executives who led auto parts maker Delphi into bankruptcy are getting massive pay and benefit incentives to stay with the company. At they same time, they're asking hourly workers to take pay and benefit cuts.Delphi filed the largest bankruptcy in automotive history over the weekend.
But top executives would get sweet severance deals or bonuses totallling $87.9 million to stick around. That includes cash incentives ranging from 30% to 250% of their salaries.
President Rodney O'Neal would get a $2.75 million bonus. Another 464 executives would collect bonuses worth $50,000 to $475,000. (Reuters)
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