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TECHNOLOGY | IN BRIEF

AT&T in Tentative Deal With Unions

April 15, 2002|Bloomberg News

AT&T Corp., the biggest U.S. long-distance company, announced a tentative agreement with unions representing 12% of its work force.

The 18-month contract includes a 6% pay raise and a $250 bonus. The company will raise pensions 8%, cover higher health-insurance premiums for retirees, and pay interest of 5.5% on the cash in workers' retirement accounts. The contract covers 27,900 employees.

AT&T and leaders of the Communications Workers of America and the International Brotherhood of Electrical Workers agreed on a short-term contract because of the slow economy and poor sales, the company said Saturday.

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