Market Overview

AT&T Offers Details on Tentative Agreement for AT&T West, Communications Workers of America District 9

Related T
#PreMarket Primer: Wednesday, April 23: Data From China Takes Some Pressure Off Beijing
Stocks To Watch For April 23, 2014
Rallying Ahead of Earnings (Fox Business)

AT&T (NYSE: T) today provided details of a tentative agreement AT&T West reached Feb. 20 with the Communications Workers of America District 9 in wireline contract negotiations.

The three-year agreement covers more than 17,000 wireline employees in California and Nevada, and will be submitted to the CWA's membership for a ratification vote in coming days.

The two sides reached the agreement through lengthy negotiations and recent mediation conducted under the auspices of the Federal Mediation and Conciliation Service (FMCS).

The agreement would be effective as of April 8, 2012 and expire April 11, 2015.

The agreement includes general wage increases in each year of the contract -- 2.25 percent effective Oct. 1, 2012, 2.75 percent in 2013, and 3 percent in 2014. It includes a 1 percent pension band increase in each year of the contract for most employees, and an expansion to additional employees of a provision that provides qualified surplus employees a guaranteed job opportunity with AT&T. It maintains one of the most robust health care plans in the nation, with increases in employee contributions.

Posted-In: News

 

Most Popular

Related Articles (T)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free