AT&T Reaches Deal With 7,000 Legacy Workers Under CWA Union

http://online.wsj.com/article/BT-CO-20091002-711292.html

By Roger Cheng
Of DOW JONES NEWSWIRES

NEW YORK (Dow Jones)--AT&T Inc. (T) reached a three-year agreement with 7,000 legacy workers represented by the Communications Workers of America, the union said on Friday.

AT&T continues to work through contract negotiations for a large number of its employees despite coming to an agreement with several districts under the CWA. The Dallas telecommunications giant continues to hold talks with several groups representing 65,000 union workers.

The company is in the middle of cutting back employees in its more traditional landline business, instead focusing on the faster growing wireless and Internet-television services.

The new plan calls for a 9% raise over the life of the contract, as well as pension increases. The agreement also sets a new level of job retention and provides new layoff protections for workers.

AT&T shares closed Friday 0.3% to $26.52 but are up to $26.67 in recent late trading.


-By Roger Cheng, Dow Jones Newswires; 212-416-2153; roger.cheng@dowjones.com

It's as good as cable when it works but it's been in an out in this part of Texas for a month.