Visteon Seeks Permission To Cut Insurance Costs For Retirees

News: US-based bankrupt auto-parts maker Visteon is seeking permission from the US bankruptcy court to end paying health and life insurance costs for about 7,000 retired workers. The supplier has told the court that the programme will cost it around US$31mn if permission to end the programme is not granted. Visteon's attorney Steven McCormick has stated that the permission is necessary for the supplier to help it give a chance to survive bankruptcy.

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