I came across this piece of new in the Financial Times about Delphi earlier in the week.
At first glance, it's not terribly interesting. Companies are cutting retirement benefits everyday. But Delphi is a company who has had tremendous success with Spend Management initiatives over the years, thanks to Dave Nelson, their Spend Management leader.
I can't imagine what additional cuts Delphi would have to make if they had not realized hundreds of millions in savings from Spend Management efforts in recent years.
Clearly, Spend Management has played a key role in saving this leading tier one provider from the scrap heap so far. Let's hope their Spend Management success continues. Next week, we'll take a quick look at the Visteon / Ford situation as well. The rumors of Visteon's bankruptcy (or possibly restructuring) have been circulating in the turnaround community for the past few months. Now it looks like Ford has saved their key supply partner.