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. 

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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.	16.58	-0.23	-1.37%

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

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"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.

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

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The company didn’t have an immediate comment.