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Verizon (VZ +1%) has agreed to new 4-year contracts with unions representing 45K workers. The...

Verizon (VZ +1%) has agreed to new 4-year contracts with unions representing 45K workers. The deals will provide an 8% pay increase from 2011 to 2015, but require workers to pay for a greater portion of healthcare expenses. Verizon, which employs 188K workers altogether, saw the aforementioned unions strike for 15 days last year over contract negotiations, an event that distorted last September's jobs data.
Comments (2)
  • There was no wage increase for 2011, just a measly $800 bonus. This is a pretty poor contract for the workers considering Verizon's profit margin and the compensation packages awarded to the C-suite. This kind of contract is acceptable when companies are not doing so well, it is not acceptable when companies as profitable as Verizon try to squeeze the workers. I think Verizon should be ashamed of itself.
    Katrina Howard
    20 Sep 2012, 08:22 AM Reply Like
  • Katrina, a lot of people agree with you. probably not investors coming on this site- it's all about their profits and what goes in their wallet, not the BS behind it. They will care when their phone/internet monthly charges go up and their need for service takes a really long time combined with hours on the phone. hahaha
    20 Sep 2012, 11:58 AM Reply Like
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