Summary
AT&T Inc. announced on October 30, 2017, a new contract offer to the Communications Workers of America (CWA) representing approximately 20,000 mobility employees. This filing details the key provisions of the proposed agreement, which, if ratified by December 15, 2017, would cover the period up to February 6, 2021. The offer includes significant wage increases, totaling nearly 10% compounded annually over the contract term, a lump sum bonus, and retroactive pay. It also addresses healthcare benefits for the final year of the contract and provides job security provisions for certain employees. The continued provision of both pension and 401(k) plans, with a consistent company match, is also a notable aspect of the proposed labor agreement.
Key Highlights
- 1AT&T has presented a new contract offer to approximately 20,000 mobility employees represented by the Communications Workers of America (CWA).
- 2The proposed contract, if ratified by December 15, 2017, would expire on February 6, 2021.
- 3The offer includes compounded annual wage increases totaling nearly 10% over the contract term, with specific increases spread from 2017 through 2020.
- 4Employees would receive a $1,000 lump sum bonus and wages retroactive to February 12, 2017.
- 5Healthcare benefits are covered for the final contract year (2021), with AT&T contributing 68-70% of total health care costs, including 100% of preventive care.
- 6Job security measures are included, offering job offers within the Mobility business for call center and retail store employees if their location closes.
- 7The contract continues to offer both pension and 401(k) savings plans, with an 80% company match on up to 6% of 401(k) contributions.
Frequently Asked Questions
This 8-K filing announces AT&T's new contract offer to its mobility employees represented by the Communications Workers of America (CWA). It details the key terms of the proposed agreement that, if ratified, will govern the employment relationship for these employees.
The proposed contract includes a total of nearly 10% in compounded annual wage increases over the contract term, a $1,000 lump sum bonus, and retroactive pay. Additionally, it maintains both pension and 401(k) plans with an 80% company match on up to 6% of 401(k) contributions.
The employees must ratify the proposed contract by December 15, 2017. If ratified, the contract would expire on February 6, 2021.
The offer includes healthcare benefits for the final year of the contract (2021). For that year, AT&T will cover 68% to 70% of employees' total health care costs, including 100% of preventive care costs.