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

|About: Verizon Communications (VZ)|By:, SA News Editor

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.