updated 3/9/2006 9:38:48 AM ET 2006-03-09T14:38:48

The United Auto Workers said Thursday that it’s not close to reaching a deal with auto supplier Delphi Corp. and General Motors Corp. over financial help for hourly workers as Delphi restructures in bankruptcy court.

The UAW said unspecified media reports indicating the parties are close to an agreement are false and are a disservice to its members.

“There are many, many significant issues to be resolved. Overall, the situation has changed very little since our last meeting,” the union said in a statement.

The UAW confirmed that it is holding a meeting next week for union leaders from Delphi facilities, but said the meeting is routine and intended to update members on “these complicated and difficult discussions.”

Delphi has threatened to ask a bankruptcy court judge to cancel its labor contracts on March 31 if it hasn’t reached a deal to cut its labor costs. The UAW has said it will consider a strike if Delphi cancels those contracts.

Delphi is scheduled to be back in bankruptcy court in New York on Thursday.

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