Avaya Reaches Retirement Pact With Some Union Workers - TheStreet

Avaya Reaches Retirement Pact With Some Union Workers

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Ayava

(AV)

, formerly the enterprise networks group of

Lucent Technologies

(LU)

, signed an agreement with its unions, offering members the option to retire from Lucent with full pension benefits and continue working as on-call support service technicians at Avaya.

About 1,500 retirement-eligible employees have accepted the offer and have begun working for Avaya, where they will support the company's seasonal sales and service installation requests and choose to work between 13 and 39 weeks out of the year.

Avaya, which has 10,500 employees in its U.S. services organization, said the pact with the Communications Workers of America and International Brotherhood of Electrical Workers provides the company with skilled, experienced technicians and software associates working on a flexible basis, and alleviates union worries about the use of subcontractors.

Avaya began trading on Oct. 2. The company's shares recently traded up 13 cents, or 0.9%, to $14.63 on the New York Stock Exchange, while shares of Lucent were down 75 cents, or 3.2%, to $22.50 in Big Board activity.