The "jobs bank" is a major stickler with Delphi. They say they are paying 4000 employees not to work (never a good idea) and this cost them 400 million a year. The word is that after acouple of months the court will order the reduction of wages and elimination of the jobs bank, which effectively voids the union contract.
The main stickler is the pension, which is why they are trying to get GM back in the picture. A report I read is that Delphi has 30,000 U.S. hourly employees and 12,000 hourly retiriees. That 12,000 has to represent the number of retiriees since the spin off, because that number seems low for a company thats been in business since 1906.
My husband (GM ) says GM has to cover those pension because of the bankruptcy. Also, Delphi workers have the right to return to GM proper. This could put GM into bankruptcy as well.