NEW YORK, September 14, 2015 /PRNewswire/ --
ACI Association has initiated research coverage on Frontier
Communications Corporation (NASDAQ: FTR). Select highlights
from the internally released reports are being made available to
the general public (included below), with access to the entirety of
the research available to new members.
Today, membership is open to readers on a complementary basis at
the following URL:
http://www.aciassociation.com/reports?keyword=FTR
Highlights from our FTR Report include:
- Frontier Communications & CWA reach agreement - In a
July 31, 2015 press release, Frontier
Communications Corporation reported that following the negotiations
the Company has reached an agreement with the Communications
Workers of America District 6 (CWA) as the Company finalizes its
acquisition of Verizon's wireline assets in California, Texas, and Florida. This agreement is expected to benefit
CWA-represented employees in Texas
and Missouri and Frontier's future
customers in Texas.
- Terms of the Agreement - Under the terms of the
agreement, Frontier has agreed to extend current collective
bargaining agreements for two years, which translates to the
addition of 60 new union-represented jobs in Texas and Missouri and a commitment to employ a 100%
US-based workforce. The terms also included significant job
security measures, an extension of the current contract for an
additional two years, wage increases for each year, technician job
upgrades and operational flexibility to enhance the service
experience for customers. In addition to that, upon the closing of
the transaction, all union employees will receive 100 shares of
Frontier restricted stock which would demonstrate Frontier's
commitment to its newest employees and their ownership in the
company's success.
- Benefits of the agreement - The CWA, representing 2,000
Verizon employees in Texas and
Missouri, supports the proposed
acquisition and believes approval of this transaction is in the
public and employees interest. This agreement provides the
workforce in both states assurances for the acquisition. The
release also informed that the agreement also includes operational
benefits to allow Frontier to implement its local engagement model
in the Texas markets.
- Management outlook - Quite pleased with the
professionalism and progress made during this latest set of
negotiations, Daniel J. McCarthy,
President and CEO of Frontier stated, "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'." He
further 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."
To find out how this influences our rating on Frontier
Communications Corporation, read the full report in its entirety
here: http://www.aciassociation.com/reports?keyword=FTR
--
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