Source: American Axle boosts offer

DETROIT (AP) — American Axle and Manufacturing Holdings Inc. boosted its wage offer and increased the payments it will give workers to take a wage cut as part of a tentative agreement that could settle an 11-week strike by the United Auto Workers union, a person briefed on the deal said Saturday.

American Axle had been offering a pay cut from $28 to $17 per hour for production workers, with a $90,000 wage “buy down” over three years to help workers make the transition to lower pay.

The person, who asked not to be identified because the deal has not yet been presented to workers, said the agreement reached Friday includes pay of $18.50 per hour and increases the size of the buy down.

The deal is similar to what the UAW agreed to with auto parts maker Delphi Corp. last year, the person said. In that deal, Delphi agreed to pay workers “buy downs” of $105,000 over three years. American Axle confirmed Friday night that both sides had agreed on a deal, but details weren’t released.