AT&T Finalizes Deal With Communications Workers Of America
Zacks Investment Research | Jan 16, 2018 06:14AM ET
AT&T Inc. (NYSE:T) has recently finalized a year-long pending deal with the Communications Workers of America (CWA) in relation with AT&T Mobility Orange unit employees.
Following the announcement, shares of AT&T were up 1.15% to $36.90 on Jan 12.
Announced on Dec 13, 2017, the four-year contract covers more than 20,000 AT&T Mobility employees (in wireless retail, call center and tech segments) in 36 states and the District of Columbia. The deal also includes wage hikes, healthcare benefits, employment security for call center and retail sales employees, and retirement benefits comprising pension and savings plan). In fact, it is likely to set new industry standards for pay rates and job security.
Notably, the latest contract follows after 11 months of negotiations and public disputes between the company and workers. In May, thousands of CWA members held a three-day strike at several locations in New Jersey, including East Brunswick, Toms River and Oakhurst. The contract expires on Feb 12, 2021.
With the new agreement, AT&T reached 32 different labor agreements since 2015 covering about 165,000 employees. This, in turn, is expected to help the service provider strengthen relationship with the union and encourage employees to continue working with the company.
This is not the first time AT&T is trying to resolve issues with CWA.
Per a Zacks Investment Research
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