Replies to post #1701 on Verizon Communications Inc (VZ)

[cintrix]

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
Getty Images
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.

[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.

Read more
© @NebojsaMalic Thousands lose health benefits as Verizon strike continues
"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."

[Zboricua]

There is a settlement that yet has to be ratified. Verizon conceded to most of the Unions demands. Apparently VZ realized that it actually needs it's trained American Workforce.