SBC Communications and the Communications Workers of America tentatively agreed to a new five-year contract covering 100,000 SBC employees. Key terms of the deal include:
- Wages: The agreement will provide for average base wage increases of 2.3% per year for the life of the contract and lump sums averaging $300 per year.
- Health Care: The agreement helps the company rein in health care costs, which have been growing at double digit rates annually. No monthly contributions will be required, but co-payments for drugs, doctor visits, emergency room services and other charges will increase for most plan participants.
- Job Security: The company and the union agreed to provide current CWA-represented employees with a guaranteed job offer, should their existing job be eliminated. This guarantee will not be extended to new employees.
In addition, the agreement also allows CWA-represented employees to perform jobs of the future that are considered an extension of traditional telephone work, while other jobs in emerging technologies will be at competitive wage and benefit levels. http://www.sbc.com
