Mobilization

AT&T and the Economy

 

The current contract negotiations between AT&T and the Communications Workers of America are NOT simply Union issues, the repercussions will resonate throughout the region, the State and the entire Country.  The proposals AT&T currently has on the table will take millions of dollars out of the economy at the very time when they are needed the most.

 

·         AT&T is a very healthy company, making profits of $12.9 Billion dollars on Revenues of over $58 Billion last year.  If AT&T were a country they would be the 39th largest COUNTRY in the world.

·         This is not about Unions or even us as individuals.  This is about our community.  In the last 10 years the Greater Milwaukee area has lost over 1200 family supporting jobs due to layoffs and office closings, while AT&T’s profits have risen year after year.  This affects the tax base of the community, the rate of home ownership, and the overall economy of SE Wisconsin .

·         AT&T wants massive cost shifting of Healthcare premiums to employees.  Based on the Management structure this could mean $200 a month for family premium AND the first $2,500 a year out of pocket.  This means up to nearly $5,000 per year per employee (1800 employees in SE Wisconsin x $5,000 = up to $9,000,000 taken out of the local economy and put into AT&T’s pocket.)  Can SE Wisconsin afford to lose $9,000,000 in discretionary income, taken from employees and given to a company that already made $12.9 Billion last year?  Sales tax revenues will decline, income tax revenues will decline (as some of those expenses will be deductible), and LOCAL business’s will suffer.

·         AT&T is refusing to discuss anything relating to Retiree Benefits.  These are people who helped to build this company into the profitable behemoth it is today.  Without taking care of them, more of the coverage will fall to the State, damaging the economy and challenging already strained budgets.   

·         In early February CEO Randall Stephenson issued a press release stating he would not take a bonus for 2008 due to the struggling economy.  However, this press release did NOT include the fact that he had no compunction about receiving $7.9 million dollars in stock awards, and over $1 million in Option Awards, taking his total Compensation for 2008 to $11,565,255.  His base salary increased 22% to $1,420,833.  Did YOU get a 22% raise last year?

 

AT&T is a fiscally sound, profitable company. They have the power right now to be leader in helping to turn this economy around by continuing to provide family supporting jobs with fair benefits.  Instead, just looking at the Health Care proposal they are proposing for 120,000 employees across the country, they have the intention of taking $600,000,000 dollars OUT OF the national economy and putting it in their own coffers, as they are self insured.  Our communities and our Country deserve better from this profitable company.

 

 

~~CWA Local 4603 Mobilization Committee~~

 

You can contact Mobilization Chair-Rich Pearson at the Local Office (414-258-4010) or e-mail him at RPearson@cwa4603.com. 

 

TAKE A STAND AND

SAY NO TO CORPORATE GREED