Verizon Reaches New 4 Year Deal With Unions, Ending 44 Day Strike

Saturday, May 28, 2016

GoLocalWorcester Business Team

Verizon Communications Inc. has reached a 4 year deal in principle on a new labor contract with its two unions, according to the U.S. Labor Department.

The deal ends a 44 day strike and allowing about 39,000 landline employees to return to work.

Of the workers, 29,000 are represented by the CWA, and 10,000 by IBEW.

The New Deal

The new 4 year deal is currently being put in writing and union members are expected to return to work next week. Full terms of the agreement were not disclosed.

The new contract is the first since Verizon took over control of Verizon Wireless and also agreed to buy AOL. Those two deals are believe d to be worth nearly $135 billion.