AT&T, union reach agreement to protect 29,000 technician jobs: report

AT&T Inc. has settled  a lawsuit with its largest union that protects at least 29,000 landline technician jobs until the end of 2023, according to Bloomberg.

AT&T also agreed to hire 6,000 customer service employees and will make Martin Luther King Jr. Day a holiday for all union members, according to a memo seen by Bloomberg News. 

GET FOX BUSINESS ON THE GO BY CLICKING HERE

AT&T has been in cost-cutting mode for some time, and has been spinning off businesses and selling assets. 

The settlement is seen as a victory for the Communications Workers of America. 

Ticker	Security	Last	Change	Change %
T	AT&T INC.	22.83	+0.10	+0.44%

AT&T eliminated 3,400 union jobs last year.

AT&T, VERIZON PUSH FREE IPHONES FOR LONG-TERM CUSTOMERS

"We are glad we got this settled with AT&T, and we are very interested in getting to work on broadband buildout," said Beth Allen, a CWA spokeswoman. 

The network technicians are needed to help the company reach its goal of adding 2.5 million new fiber broadband customers this year.

IPHONE 13? APPLE SETS DATE FOR LATEST PRODUCT LAUNCH EVENT

 The company had about 85,000 unionized employees at the end of January.

CLICK HERE TO READ MORE ON FOX BUSINESS

The company didn’t have an immediate comment.