By PETER HUSSMANN
Iowa Telecom employees not retained by Windstream following completion of the merger of the two telecommunications companies will be given 60-day notice that their jobs will be terminated in addition to as much as a half a year of salary in severance payments.
That information was spelled out in a Securities and Exchange Commission filing by Windstream last week.
Employees impacted by the merger, in addition to the two-month notice provision, will be provided a minimum of eight weeks base salary upon termination or two weeks pay for each year worked up to a maximum of 26 weeks, whichever is greater.
Employees will also be provided continued access to Iowa Telecom's health insurance coverage under COBRA, paid all accrued and unused vacation time, pro-rated short-term incentive awards and use of amounts of money contained in an employee's flexible spending account.
Windstream, headquartered in Little Rock, Ark., says it plans to continue to have a presence in Newton following completion of the merger and expand Iowa Telecom's local call center.
Iowa Telecom has approximately 800 employees companywide.
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