DALLAS, March 16, 2012 /PRNewswire/ -- AT&T* on March 4 reached a tentative agreement with the Communications Workers of America in Mobility contract negotiations covering approximately 8,800 employees in CWA District 6 (AT&T's Southwest region).
The company and the union worked hard in the spirit of our longstanding relationship to reach this agreement.
Upon the ratification, the proposed new four-year contract goes into effect Feb. 25, 2012. Among provisions of the tentative agreement:
- A $1,000 one-time lump sum cash payment to eligible employees upon ratification
- General wage increases in each year of the contract – 2 percent the first year, 2.5 percent the second year, 2.25 percent the third year, and 2.5 percent the fourth year.
- Pension plans for current employees remain unchanged.
- New hires continue to be eligible for a cash-balance pension.
- Continued 401(k) savings plan with generous 80 percent company match on up to 6 percent of employee's contribution.
Health care benefits are bargained separately and are not included in this agreement.
*AT&T products and services are provided or offered by subsidiaries and affiliates of AT&T Inc. under the AT&T brand and not by AT&T Inc.
AT&T Inc. (NYSE: T) is a premier communications holding company and one of the most honored companies in the world. Its subsidiaries and affiliates – AT&T operating companies – are the providers of AT&T services in the United States and around the world. With a powerful array of network resources that includes the nation's fastest mobile broadband network, AT&T is a leading provider of wireless, Wi-Fi, high speed Internet, voice and cloud-based services. A leader in mobile broadband and emerging 4G capabilities, AT&T also offers the best wireless coverage worldwide of any U.S. carrier, offering the most wireless phones that work in the most countries. It also offers advanced TV services under the AT&T U-verse® and AT&T |DIRECTV brands. The company's suite of IP-based business communications services is one of the most advanced in the world. In domestic markets, AT&T Advertising Solutions and AT&T Interactive are known for their leadership in local search and advertising.
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© 2012 AT&T Intellectual Property. All rights reserved. Mobile broadband not available in all areas. AT&T, the AT&T logo and all other marks contained herein are trademarks of AT&T Intellectual Property and/or AT&T affiliated companies.
Cautionary Language Concerning Forward-Looking Statements
Information set forth in this press release contains financial estimates and other forward-looking statements that are subject to risks and uncertainties, and actual results might differ materially. A discussion of factors that may affect future results is contained in AT&T's filings with the Securities and Exchange Commission. AT&T disclaims any obligation to update and revise statements contained in this news release based on new information or otherwise.
SOURCE AT&T Inc.