Verizon Communications Inc (VZ)

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Verizon workers could be back on the job next week

Published: May 27, 2016 2:04 p.m. ET






Proposed four-year deal to be submitted to members for approval
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Verizon workers on strike in Brooklyn

By
Ryan Knutson

Verizon Communications Inc. and its labor unions have reached an agreement in principle that would end a weekslong labor strike, the U.S. Labor Secretary Thomas Perez said.

Recent discussions between the two sides have resulted in a four-year contract that would resolve the dispute, Perez announced in a news release. The two sides are working to put the agreement in writing, and then it will be submitted to union members for ratification.

“I expect that workers will be back on the job next week,” Perez said.

The strike, which began April 13, involves nearly 40,000 employees, primarily in Verizon’s VZ, +0.88% landline division.

Terms of the new labor accord weren’t disclosed. Verizon officials and union representatives had no immediate comment.

An expanded version of this report appears at WSJ.com.