AT&T (NYSE: T) and the International Brotherhood of Electrical Workers System Council T-3 have ratified a four-year contract covering almost 6,500 wireline employees in Illinois, northwestern Indiana and other local union branches throughout the United States.
The contract will go into effect on June 23, 2013 and will expire on June 24, 2017.
In March, AT&T and the IBEW laid out a tentative agreement after both sides began negotiating the terms of a new contract in February.
As previously reported, AT&T will provide employee raises each year of the contract: 2.25 percent in the first year, 2.5 percent the second year, 2.75 percent the third year and 3 percent the fourth year. It also includes a 1 percent pension band increase during each year of the contract for a majority of the IBEW employees.
Since the contract was signed by May 7, AT&T will also provide a $1,000 ratification bonus to every eligible employee.
AT&T has made similar progress with wireline employees represented by the Communications Workers of America union in four regions: West, Midwest, Southeast, and the Southwest.
When combined with the IBEW contract that was ratified on Tuesday, these agreements collectively cover more than 83,000 bargained AT&T wireline employees.
- see the release
Special report: The battle for union contracts: AT&T, Hawaiian Telcom, others hash out wireline benefits
AT&T, CWA West ratify new wireline union agreement
AT&T West employees threaten strike amidst negotiations
AT&T West, CWA workers lock horns on 3-year contract
AT&T, CWA District 9 reach tentative agreement
CWA District 6 members last month rejected a tentative agreement