AT&T Workers Avert Strike

    The AT&T logo is seen on one of it's buildings in San Antonio, Monday, April 23, 2007. Telecommunications heavyweight AT&T Inc. said Tuesday, April 24, 2007 its profit doubled to $2.8 billion in the first three months of the year, its first full quarter since completing its acquisition of BellSouth. (AP Photo/Eric Gay)

    Eric Gay / AP Photo

    Thousands of AT&T workers have agreed to continue to work under an expired contract while negotiations with management at the telephone company continue. The move avoids a strike for the moment. AT&T has plans to cut back its workforce to cut expenses, particularly in its declining wireline business. The labor contracts for 10,000 AT&T workers expired at midnight Saturday. Communications Workers of America, the union that represents the laborers, said there was “some progress” but still “a lot of ground yet to cover” in negotiations with the telecommunications giant.

    Read it at Reuters