FOR IMMEDIATE RELEASE
February 22, 1996
Arlington, VA - A new three-year agreement with the Bell Atlantic Network Services Companies has been ratified by the Communications Workers of America (CWA) by an overwhelming majority.
The ratified contract, which covers some 34,400 union-represented workers, follows a tentative agreement reached between Bell Atlantic and the CWA Jan. 25.
"We've come a long way over the past months," said Tyler Williams, Bell Atlantic vice president for labor relations. "I'm delighted we resolved differences and achieved a consensus that benefits both the company and our employees,"
Highlights of the agreement include:
- 10.6 percent wage increase (11.0 percent compounded) over the life of the contract, with 3.3 percent effective Dec. 31, 1995; 3.6 percent Dec. 29, 1996, and 3.7 percent Dec. 28, 1997;
- $1,500 ratification bonus;
- Corporate profit sharing with a standard amount of $300 a year for 1996 and 1997;
- Team-based incentive pay of up to five percent of base wages with no base wages at risk;
- Employment security measures and an Enhanced Income Security Plan;
- Pension band increases of 12 percent over three years for future pensions, continuation of the pension cashout trial through 1998, and a four percent pension increase for current retirees;
- A new retiree health care plan with no employee contributions before the year 2002.
In a separate contract, the CWA also gained representation of technical workers in Bell Atlantic Communications and Construction Services, Inc., in the southern portion of the Bell Atlantic region (Maryland, Virginia, West Virginia, Delaware and the District of Columbia).
Bell Atlantic Corporation (NYSE: BEL) is at the forefront of the new communications, entertainment and information industry. In the mid-Atlantic region, the company is the premier provider of local telecommunications and advanced services. Globally, it is one of the largest investors in the high-growth wireless communication marketplace. Bell Atlantic also owns a substantial interest in Telecom Corporation of New Zealand and is actively developing high-growth national and international business opportunities in all phases of the industry.
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