[July 31, 2015] |
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Frontier Communications and Communications Workers of America Reach Agreement in Texas and Missouri
Frontier Communications Corporation (NASDAQ: FTR) and the Communications
Workers of America District 6 (CWA (News - Alert)) 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 (News - Alert) 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:
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Employee job security protection
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Extend the existing contracts for two years with wage increases in
each year
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The addition of 60 new union-represented jobs in Texas and Missouri
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Technician Job Upgrades
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Operational flexibility to enhance the service experience for customers
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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
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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 itsfuture
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
at www.frontier.com.
About Communication Workers of America
The Communications Workers of America represents 700,000 workers in
telecommunications, media, airlines, public service and manufacturing.
Forward-Looking Statements
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150731005399/en/
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