FairPoint, unions reach tentative deal
Two days after postponing its bankruptcy reorganization filing, FairPoint Communications has reached a tentative contract agreement with unions in northern New England.
Officials from the International Brotherhood of Electrical Workers and the Communications Workers of America, which represent nearly 3,000 employees, said yesterday the contract agreement includes restructured compensation packages, a one-year contract extension and deferment of the 2010 wage increase until the final year of the contract, according to the Associated Press. The unions last year agreed on a five-year contract set to expire in August 2013, but FairPoint has been seeking $30 million in concessions in the wake of its bankruptcy filing last October. Union members are expected to vote on the tentative agreement over the next week.
On Monday, FairPoint again delayed filing its restructuring plan, saying it was still negotiating with unions and lenders. A new filing date has not been set.
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