Tape Release 4/16/2020
As I previously stated, Frontier announced that it was filing for Chapter 11 bankruptcy yesterday. They have a restructuring support agreement with Bondholders to address over 10 billion dollars in debt. The first filings with the US bankruptcy court take place today.
As I said, our Union contract stays in place until any renegotiation takes place. We expect operations to continue as normal for the time being.
We will continue to prepare for bargaining with our main goals to protect our jobs and bargained for work along with protecting our benefits as our priorities.
As for retirees, we will be watching for information whereby the company will be looking to end any health insurance benefits. The pensions are secured and protected under ERISA and they cannot take these benefits away.
The Union is petitioning to be on the unsecured creditors committee to make sure any claims we have get paid.
Retirees: I’ve been told that the federal withholding tax tables have been changed as of April 1st. That you will have to submit a new W4 form to alter your deductions, please review with your tax preparer. We will continue to seek more information on the matter to help you.
Ray Kanis passed away this week at the age of 89. Ray was a spirited active retiree who loved to hang out with the other Rochester Telephone retirees. His presence will be greatly missed.
This is your President John Pusloskie thanking you for calling your Union tape. And we are CWA STRONG.