Bruce Telecom has a deal with its 60 to 70 unionized personnel to help in the financial re-structure of the company.
Company CEO Eric Dobson says agreement has been reached but did not reveal details.
In an earlier interview with Bayshore Broadcasting News, Dobson said he was asking the union members to take a 6.5 per cent wage hit, which included a 3 per cent reduction in current wages, plus a freeze on a 3.5 per cent wage increase that was set to kick in this year, as per the collective agreement with the company.
Dobson did say that the agreement with Local 255, Canadian Union of Public Employees, allowed the company to achieve what they needed to from a financial perspective.
He says the deal with the union personnel plus the other agreements with management and non-union personnel will now allow Bruce Telecom the money to re-invest in its network and products.
Dobson says it also gives the company that opportunity to improve profits for itself and for the municipality of Kincardine.
Meanwhile, the Clerical Steward of Local 255, Canadian Union of Public Employees, Kerri Brooks confirms union members have agreed to wage concessions in order to avoid layoffs.
Brooks, in a prepared statement, points out it’s the second time in four years that the members have agreed to help the company and they expect their sacrifice will be met by a commitment from Bruce Telecom and the municipality of Kincardine to re-build the company.