In an unprecedented move, the International Brotherhood Electrical Workers (IBEW) and the Communications Workers of America (CWA) unions have struck a pact with FairPoint to right the ship out of bankruptcy and improve services.
Under the terms of the tentative agreement, the two groups have established a "Joint Committee for Operational Savings" that they say will "pursue all ideas to reduce costs, improve revenue, and increase productivity" to help FairPoint recover from bankruptcy.
FairPoint and its secured creditors said in a press release they would not ask for Section 1113 relief, a part of the bankruptcy code that addresses union contracts, from the obligations it has in current labor agreements. Contracts with IBEW Local union chapters 2320, 2326, 2327 and CWA Local 1400 have been extended for another year and a 2010 wage increase will be put off until the last year of the contract.
For more:
- New Hampshire Union Leader has this article
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