Telmex bolsters pension plans to persuade striking workers

Telmex bolsters pension plans to persuade striking workers

Mexican operator Telmex offered union workers a new deal that bolsters retirement packages in an attempt to smooth relations with striking workers.

Reuters reported, that a document detailed the operator presented union workers a deal that offered new staff gain a pension worth 100% of their final net pay, which they would be eligible for after 35 years of service and reaching the age of 65.

The final sum would be made up of the pension paid out by Telmex plus entitlement from the Mexican Social Security Institute, a government arm.

The Mexican Telephone Workers Union, also known by its Spanish acronym STRM, will launch a counter-proposal as the deal misses out on key points, according to a union spokesperson. A key unanswered point was the 2,000 vacant roles the company is yet to commit to fulfilling.

STRM represents 60,000 active and retired staff, it began industrial action in July which marked the first strike from the operator in four decades as talks broke with Telmex.

Negotiations will continue until September 20 which also involves the Mexican labour ministry.

Telmex has said it is focusing on raising funds to invest in technology and create new revenue streams over the next decade.

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