NORWALK, Conn.--(BUSINESS WIRE)-- Frontier Communications Corporation (NYSE:FTR, news, filings) and the Communications Workers of America District6 (CWA) are pleased to announce the signing of an agreement that will benefit CWA-represented employees in Texas and Missouri and Frontier's future customers in Texas. The agreement is an important step forward in the process to complete Frontier's planned acquisition of Verizon's wireline business and assets in Texas, California and Florida. The CWA supports the proposed acquisition and believes it is in the public interest and the interest of its members.
The CWA represents 2,000 Verizon workers in Texas and Missouri. This agreement provides the workforce in both states assurances for the acquisition and how the acquisition will affect them. It also includes operational benefits to allow Frontier to implement its local engagement model in the Texas markets. Reaching this agreement early allows these dedicated men and women to focus on delivering state-of-the-art broadband, voice and video services to Frontier's future residential and business customers.
Frontier has agreed to honor and extend the existing collective bargaining agreements for two years. Highlights of the agreement include:
- Employee job security protection
- Extend the existing contracts for two years with wage increases in each year
- The addition of 60 new union-represented jobs in Texas and Missouri
- Technician Job Upgrades
- Operational flexibility to enhance the service experience for customers
- All union employees will receive 100 shares of Frontier restricted stock upon the closing of the transaction to demonstrate Frontier's commitment to its newest employees and their ownership in the company's success
- Frontier continues to commit to a 100% U.S. based workforce
As part of this agreement, Frontier and the CWA will form a Partnership Forum that will promote innovation of Frontier's products and services and the service experience our customers receive. All commitments by Frontier are designed to ensure that the workforce stays highly motivated and trained to deliver the best possible service to its future customers in Texas.
"I am very pleased with the professionalism and progress made during this latest set of negotiations," said Daniel J. McCarthy, President and Chief Executive Officer of Frontier. "We value our positive relationships with our employees and their unions and rely on them to help us live up to our goal to `Put the Customer First'." Mr. McCarthy added, "Our discussions with the CWA about this acquisition have been beneficial to union-represented workers and will ultimately benefit Frontier's customers in Texas, California and Florida. We look forward to building a strong partnership in the years ahead."
CWA District 6 Vice President Claude Cummings said, "We have reached an agreement with Frontier that is in the best interests of telecommunications workers and consumers. We hope to build on this partnership going forward."
The agreement between Frontier and CWA is contingent upon the approval of the proposed transaction by the Federal Communications Commission, applicable state approvals, and the consummation of the proposed transaction.
About Frontier Communications
Frontier Communications Corporation (NASDAQ: FTR) offers broadband, voice, video, wireless Internet data access, data security solutions, bundled offerings, specialized bundles for residential customers, small businesses and home offices and advanced communications for medium and large businesses in 28 states. Frontier's approximately 18,200 employees are based entirely in the United States. More information is available atwww.frontier.com.
About Communication Workers of America
The Communications Workers of America represents 700,000 workers in telecommunications, media, airlines, public service and manufacturing.
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. These statements are made on the basis of Frontier management's views and assumptions regarding future events and business performance. Words such as "believe," "anticipate," "expect" and similar expressions are intended to identify forward-looking statements. Forward-looking statements (including oral representations) involve risks and uncertainties that may cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. These risks and uncertainties include, but are not limited to: Frontier's ability to complete the acquisition of Verizon's California, Florida and Texas wireline operations, including the ability to complete the financing of the acquisition; the ability to successfully integrate the acquired operations into Frontier's existing operations; the sufficiency of the assets to be acquired from Verizon to enable the combined company to operate the acquired business; the ability to enter into or obtain, or delays in entering into or obtaining, certain agreements and consents necessary to operate the acquired business as planned; the ability to obtain, delays in obtaining or adverse conditions contained in any required regulatory approvals for the Verizon transaction; and the other factors that are described in Frontier's filings with the U.S. Securities and Exchange Commission, including but not limited to Frontier's reports on Forms 10-K and 10-Q. These risks and uncertainties may cause Frontier's actual future results to be materially different than those expressed in the forward-looking statements contained in this press release. We do not undertake to update or revise these forward-looking statements.
Source: Frontier Communications Corporation
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