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OVERLAND PARK, KN. — Sprint Nextel and the Communications Workers of America have reached an agreement about labor issues related to the spin-off of the company's local phone operations.
The new company will be known as
Embarq
.
"We received assurances over questions we had regarding the financial characteristics of the new company and the transfer of pension assets," said CWA Telecommunications Vice President Jimmy Gurganus said in a statement. "We wanted to make sure that the new company would have the resources to invest in the future, have the ability to compete successfully and provide quality service and secure jobs. As a result of our talks, we are now satisfied on that score."
The union, which represents some 3,800 workers involved in local telecommunications, said it would withdraw its interventions in state regulatory proceedings.
One of Embarq's largest operations is based in the Carolinas.
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