[Techtaffy Newsdesk]
AT&T 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) on March 4.
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.