DALLAS, May 30, 2012 /PRNewswire/ --AT&T* today announced that it has reached a tentative agreement with the International Brotherhood of Electrical Workers on a one-year contract extension covering nearly 7,000 core wireline employees.
The agreement, which will be submitted to the union's membership for a ratification vote in coming days, was reached prior to the current contract's expiration on June 23. Most of the IBEW employees covered under the contract are members of IBEW Local 21 and are in Illinois and northwestern Indiana; the rest are spread across the country.
The one-year extension provides a 1 percent base salary increase; and a lump-sum payment of $500 for employees who will make less than $50,000 a year after the salary increase, and $300 for employees who will make more than $50,000 after the salary increase.
Health care benefits remain among the best in the nation, with a modest increase in employee contributions. The agreement also would continue to provide employees with a pension and 401(k) savings plan, at a time when such benefits are increasingly rare in corporate America.
*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.
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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 largest 4G network, AT&T is a leading provider of wireless, Wi-Fi, high speed Internet, voice and cloud-based services. A leader in mobile Internet, 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.
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SOURCE AT&T Inc.
