Verizon Strike Update: Settlement is Reached

The 45,000 striking Verizon workers will return to their jobs starting on Monday. The Communications Workers of America and the International Brotherhood of Electrical Workers — made the announcement on Saturday after two parties reached an overall settlement.

[via NY Times]

Union officials said they had originally called the strike because they felt they were not being taken seriously and because Verizon was insisting on so many and such sweeping concessions. Verizon was hardly budging from its original position, the unions said, another point of contention. Verizon is pushing for, among other things, a pension freeze for current workers, fewer sick days, an end to all job security provisions, far larger employee contributions toward health coverage, and freedom to do as much outsourcing as it wants.

Larry Cohen, the communications workers’ president, said in an interview Saturday that under an agreement reached Friday, the bargaining was being restructured to focus on major issues, with top Verizon officials indicating that there would be real progress in bargaining. Mr. Cohen said another factor that helped persuade the unions to return to work was that Verizon had agreed to keep the expired contract in force until a settlement is reached.