Exclusive: Verizon Extends Union Contract, Avoiding Possibly Tough Labor Talks Next Year [Fortune]
Verizon Communications Inc. (VZ)
Last verizon communications inc. earnings: 4/24 07:30 am
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Source: Fortune
Verizon and its largest unions agreed to extend a hard fought 2016 contract covering about 34,000 employees for another four years, avoiding potentially contentious negotiations next year. The Communications Workers of America and the International Brotherhood of Electrical Workers agreed to additional wage increases totaling 11% over the additional four years, while maintaining job protection provisions included in the prior contract. The telco giant, which has seen its profits bolstered by the big corporate tax cut, got a promise of labor peace, after numerous strikes that occurred during past contract talks. Instead of expiring in August, 2019, the deal now extends into 2023. The covered workers still must ratify the agreement, with a vote expected in a few weeks. “This is a home run for our workers,” Dennis Trainor, vice president of CWA’s District One, tells Fortune . “We felt we had a very successful 2016 contract after the strike.” The original four-year cont
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VZ
Earnings
- 4/22/24 - Beat
VZ
Sec Filings
- 4/25/24 - Form 10-Q
- 4/22/24 - Form 8-K
- 4/16/24 - Form PX14A6G
- VZ's page on the SEC website