P.M. BRIEFING : AT&T; Extends Early Retirement Plan to 15,500 Union Workers

American Telephone & Telegraph Co. said today that it has reached a pact with its unions on a voluntary early retirement package that nearly doubles to 33,500 the number of workers eligible for a pension.

The telecommunications giant said 15,500 workers could sign up for the package, in addition to 18,000 non-management employees already entitled to a pension.

The company has gradually been cutting staff, reducing its work force by about 25% over the last six years in an effort to increase profitability.

This is the first time AT&T; has offered an early retirement package to union employees.

The plan adds three years of age and three years of service to the work records of 165,400 employees, increasing the number eligible for retirement. Workers with the company for at least five years will be included in the program.

Last year AT&T; offered a special early retirement plan to managers that added five years of age and service to their work records, plus 15% to pension checks for up to five years.

About 39% of the 32,121 eligible supervisors signed up for the program.