Telmex, an America Movil subsidiary, has reached an agreement with the union workers on retirement benefits beginning in January 2023 for Telmex’s new employees.
Under the new agreement, the retirement benefit for new employees will be reduced to 60 per cent of their last salary, with the inclusion of certain additional benefits. The agreement will apply to employees who have reached 35 years of service and are at least 65 years old.
The previous agreement with workers permitted retirement after 35 years of service without an age requirement. The only exception under the new agreement for early retirement before turning 65 years old is for employees who have turned 60 and have 37 or more years of service.
The new agreement offers an optional stock plan, allowing both active and retired employees of Telmex to convert a portion of their pension liability into shares of Telmex’s capital stock.
Under the stock option plan, employees will receive shares of Telmex with the same rights as the company’s current shareholders. Additionally, Telmex will consolidate its existing series of shares into a single series composed of ordinary and full voting rights shares.
Telmex offers a wide range of communication services, including data transmission, video, internet access, and integrated telecommunications solutions for multinational customers.
Telmex USA provides telecom and tech solutions to the world’s leading corporations that do business across the Americas.
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