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LAST MINUTE: Telmex presents a new offer to the union with bonuses for retirees and 100% pensions

Telmex, the telecommunications company controlled by the family of tycoon Carlos Slim, presented a new offer to unionized workers on Tuesday that includes bonuses for those who retire, in an attempt to end a long-running dispute over benefits.

The offer comes after weeks of negotiations between the company and the union after a two-day strike in July. Telmex presented a proposal in August, but both parties decided to continue the talks.

The new proposal stipulates that workers who join the company after October 1 will receive, upon retirement, an annual bonus in December equivalent to 10 days’ salary, as well as a 10-day bonus in August. The plan does not specify whether the August bonus will also be annual, nor does it include more details about the payment of bonuses.

Telmex, a subsidiary of América Móvil, reiterated that the new hires would obtain a pension at the time of retirement equivalent to 100% of their final net salary, determined by their employment category, being eligible after 35 years of work and once they complete 65 years old.

That sum would be made up of the payment of the pension for the contract with Telmex plus the rights of the workers derived from state social security benefits, he points out.

Workers retiring after 30 years will receive 75% of their final take-home pay, he said.

Representatives from Mexico’s telephone workers’ union (STRM) were set to vote on the proposal later on Tuesday, the union’s spokesman said. If accepted, the proposal will be put to a final vote by all union members.

The union, which represents 60,000 active and retired workers, staged a two-day strike in late July, the first in four decades, after talks with Telmex broke down over issues related to salary increases, unfilled vacancies and benefits. for new employees.

The strike ended after the two sides agreed to continue negotiations.

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