AT&T, CWA Agree to 9% Raises, Layoff Protections

AT&T Inc. (T) and the Communications Workers of America union finally are making headway.

The two entities have been in heated talks since the AT&T wireline labor contract expired in April.

But now AT&T says it has reached a three-year deal with 7,000 of its CWA workers – this after the service provider also last week struck a new accord with the International Brotherhood of Electrical Workers.

This latest agreement with CWA provides for a 9 percent raise over the three years, as well as pension increases. There also are new job retention levels and new layoff protections.

AT&T still has to come to terms for 65,000 more union workers.