Verizon Communications Inc (VZ)

[Susie924]

Verizon and labor union reach deal in principle ending 6-week strike - report

https://www.rt.com/usa/344628-verizon-strike-deal-reach/

Secretary of Labor Thomas E. Perez has announced that a deal has been reached between telecoms giant Verizon and unions representing 39,000 workers ending a six week strike over cuts to pensions and pay.
The strike started on April 13 when some 35,000 workers walked off the job, making it the largest strike in the US history.Verizon had a 7 month strike in the 70's The striking workers included network technicians and customer service representatives in the company's Fios Internet, telephone and television services unit.

Described by Perez as a "tentative resolution," Verizon’s workers, unions, and management have reached an agreement in principle on a four-year contract.

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"Throughout the past 13 days of negotiations at the Department of Labor, I have observed firsthand the parties’ good faith commitment to narrowing differences and forging an agreement that helps workers and the company," Perez said in a statement Friday.

Perez also said that he expects "that workers will be back on the job next week," before commending all parties involved "for their commitment to resolving these difficult issues in the spirit of constructive engagement."