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Verizon misses contract deadline; no strike for now

Aug. 02, 2015 8:16 AM ETVerizon Communications Inc. (VZ) StockVZBy: Yoel Minkoff, SA News Editor8 Comments
  • Verizon (NYSE:VZ) has missed its midnight deadline to secure a deal with more than 37,000 of its wireline employees, but the unions representing them said they will keep working without a contract while talks continue.
  • Since June, the two sides have argued over the company's plans to cut costs by controlling healthcare and pension-related benefits over a three-year period.
  • A walkout is still on the table. Unions voted last week to go on strike, if needed, and a similar dispute ended in a two-week walkout back in 2011.
  • Previously: Verizon, wireline unions show little progress on eve of deal expiration (Jul. 31 2015)
  • Previously: Verizon workers threaten to strike (Jul. 26 2015)

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