NEW YORK (CBSNewYork)– The New York State Public Service Commission heard some unkind comments on Tuesday regarding the sale of Cablevision to a foreign-based company.
Union workers railed against the planned sale to Dutch-based company Altice, telling the State Public Service Commission that they have a horrible track record of customer service and employee benefits.
“The CEO, Drahi, was famously quoted a few weeks ago as saying, ‘I don’t like to pay salaries. I pay as little as I can.’ We think that’s not good for Long Island,” Union Spokesman Tim Dubnau told WCBS 880’s Mike Xirinachs.
In a statement, Altice Co-President Charles Stewart called the company “a leading global communications company,” with plans to invest in Cablevision innovation. Union leaders said the statement is a claim that is not reflected in the company’s track record.
Altice outlined a plan to take on $8.6 billion in debt to finance the deal, according Communications Workers for America. The union says that this level of debt will require deep cuts that will likely negatively impact both consumers and workers.
Opponents of the plan say that Altice’s planned $1.05 billion cuts in operating expenses and expenditures will also decrease customer service quality significantly.