FairPoint Strikes Deal Over Union Contracts

Law360, New York (February 3, 2010, 2:31 PM EST) -- FairPoint Communications Inc. has reached a tentative agreement with its union workers to defer wage increases and extend their contracts another year as the bankrupt telecommunications provider works its way through Chapter 11.

In announcement Tuesday, the International Brotherhood of Electrical Workers and Communications Workers of America said the tentative deal would establish a joint committee for operational savings that would “pursue all ideas to reduce costs, improve revenue, and increase productivity.”

Company officials had sought about $30 million a year in contract concessions, but union...
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