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AT&T (T) Inking Deals with Communications Workers of America
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U.S. telecom behemoth AT&T Inc. (T - Free Report) is presently focused on signing multiple contracts with the Communications Workers of America (CWA). On Mar 6, as per a recent FierceTelecom report, both AT&T and CWA have finally approved labor agreement related to CWA-represented former DirecTV employees in four states. This will help the service provider solidify its relationship with its union workforce and encourage the employees to continue with the existing labor contract.
This new agreement related to DirecTV workforce was announced on Feb 16. The agreement covers 280 employees in Delaware, Maryland, New Mexico and Oregon.
On Mar 3, AT&T and the Communications Workers of America (CWA) reached a four-year tentative labor agreement with the company’s Southwest wireline workforce. This four-year agreement covers over 20,000 employees in Arkansas, Kansas, Missouri, Oklahoma and Texas. The agreement will be submitted to the union's members for approval, in the coming days.
AT&T and CWA have agreed to start negotiating a new contract at the earliest. The current labor contract expires on Apr 8. If the new contract gets official on or before Apr 7, 2017, every single employee under this contract will receive a guaranteed bonus of $1,000. The new deal will remain effective from Apr 9, 2017 to Apr 10, 2021.
If this proposed agreement between AT&T and CWA goes through, the former will have sealed a total of 19 different labor agreements for the 2016 and 2017 period, collectively covering over 81,000 employees. This includes 10 agreements covering nearly 7,800 former DirecTV employees. Between 2015 and 2016, AT&T successfully negotiated 25 labor contracts covering a total of 102,000 workers. In Dec 2016, AT&T completed an agreement on a new contract covering 2,000 DirecTV call center workers.
The finalization of such agreements, especially on the DirecTV side, looks impressive as AT&T is looking forward to integrate the satellite operator’s core operations to drive new products like DirectTV Now. Also, such labor negotiations help to avoid the long labor strikes which are common in the wireless industry.
Latest Business Prospects
Apart from signing different labor deals, AT&T has also joined the recently hyped unlimited data plan war in the wireless industry. Other participants in the battlefield are the other three major wireless telecommunications companies in U.S. –Sprint Corp. (S - Free Report) , T-Mobile US (TMUS - Free Report) and Verizon communications Inc. (VZ - Free Report) .
Over the past three months, AT&T returned 3.71%, while the Zacks-categorized Wireless National industry gained 1.47%.
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AT&T (T) Inking Deals with Communications Workers of America
U.S. telecom behemoth AT&T Inc. (T - Free Report) is presently focused on signing multiple contracts with the Communications Workers of America (CWA). On Mar 6, as per a recent FierceTelecom report, both AT&T and CWA have finally approved labor agreement related to CWA-represented former DirecTV employees in four states. This will help the service provider solidify its relationship with its union workforce and encourage the employees to continue with the existing labor contract.
This new agreement related to DirecTV workforce was announced on Feb 16. The agreement covers 280 employees in Delaware, Maryland, New Mexico and Oregon.
On Mar 3, AT&T and the Communications Workers of America (CWA) reached a four-year tentative labor agreement with the company’s Southwest wireline workforce. This four-year agreement covers over 20,000 employees in Arkansas, Kansas, Missouri, Oklahoma and Texas. The agreement will be submitted to the union's members for approval, in the coming days.
AT&T and CWA have agreed to start negotiating a new contract at the earliest. The current labor contract expires on Apr 8. If the new contract gets official on or before Apr 7, 2017, every single employee under this contract will receive a guaranteed bonus of $1,000. The new deal will remain effective from Apr 9, 2017 to Apr 10, 2021.
If this proposed agreement between AT&T and CWA goes through, the former will have sealed a total of 19 different labor agreements for the 2016 and 2017 period, collectively covering over 81,000 employees. This includes 10 agreements covering nearly 7,800 former DirecTV employees. Between 2015 and 2016, AT&T successfully negotiated 25 labor contracts covering a total of 102,000 workers. In Dec 2016, AT&T completed an agreement on a new contract covering 2,000 DirecTV call center workers.
The finalization of such agreements, especially on the DirecTV side, looks impressive as AT&T is looking forward to integrate the satellite operator’s core operations to drive new products like DirectTV Now. Also, such labor negotiations help to avoid the long labor strikes which are common in the wireless industry.
Latest Business Prospects
Apart from signing different labor deals, AT&T has also joined the recently hyped unlimited data plan war in the wireless industry. Other participants in the battlefield are the other three major wireless telecommunications companies in U.S. –Sprint Corp. (S - Free Report) , T-Mobile US (TMUS - Free Report) and Verizon communications Inc. (VZ - Free Report) .
Over the past three months, AT&T returned 3.71%, while the Zacks-categorized Wireless National industry gained 1.47%.
AT&T currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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