The conflict between the Telephone Operators Union of the Mexican Republic (STRM) and Telmex arose after Carlos Slim’s company proposed the elimination of the retirement system and the Afores for workers were implemented, due to the financial problems it is going through the company.
The declaration of preponderance of América Móvil in 2014, by the Federal Telecommunications Institute (IFT), forced the company to carry out the functional separation of Telmex-Telnor, share infrastructure with other operators in the sector, among others, with the purpose of to decrease its market share.
This situation, according to the STRM, caused a deficit of 111,000 million pesos in contributions to the retirement and pension fund of workers affiliated with the union, while Telmex has allocated part of its profits to its operation to stay in line with the connectivity needs that users request.
Last July a strike broke out and the Secretary of Labor had to enter as a mediator between the company and the union. On January 16, six months after the negotiating tables were established, Telmex and the STRM reached an agreement regarding retirement conditions (pensions) for newly hired personnel hired by Telmex starting this month.
Now, workers who complete 35 years of service (seniority) will be able to access retirement without requiring a specific age limit, with the only exception to access retirement before age 65 when the worker is 37 years old or older. , service (seniority) and have a minimum age of 60 years.
The new agreement also includes the possibility that active and retired Telmex workers can convert part of their pension liability for shares representing the company’s capital stock.
In order for the workers who decide to participate in the stock plan to receive shares with the same rights as all current Telmex shareholders, the share series representative of Telmex’s capital stock will be unified into a single series, made up exclusively of ordinary shares. , full vote.
This process will require certain prior corporate and regulatory authorizations. The new agreement will allow Telmex to continue with its investments in infrastructure.