Business News

Transcript

RENEE MONTAGNE, HOST:

NPR's business news starts with labor woes at AT&T.

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MONTAGNE: AT&T and union officials have agreed to extend contract negotiations, preventing a mass walkout by some 40,000 unionized workers. The deadline to agree on the new contract had been yesterday. AT&T is seeking concessions from its workers, including cuts in pension contributions, and also an increase in health care premiums. The union is calling those concessions unrealistic.

AT&T has seen revenues go down in its traditional home and business landline divisions which have suffered as more people switched to mobile devices. Transcript provided by NPR, Copyright National Public Radio.