Verizon Trying To Reach A Deal With Union, But Labor Is Threatening With Strike

Verizon Communications Inc. VZ said it was trying to set the record straight. The company indicated that after 10 months of the failure to strike an agreement with the labor union, the telecom service provider said that it was trying its best to reach a deal. However, the union is threatening with strikes than engage themselves at the bargaining table.

Verizon's Wireline network operations President, Bob Mudge, said "We do not take strike threats lightly." He added, "For more than a year, we've been preparing in the event union leaders order our employees to walk off the job. If a strike takes place, whether it's one day, two weeks or longer, we are ready."

The company's official added further, "We have trained thousands of non-union Verizon employees to carry out virtually every job function handled by our represented workforce – from making repairs on poles to responding to inquiries in our call centers. We know the unions' strike order will be a hardship and pose challenges for our employees, but as a 24x7 customer service company, our contingency plans are in place and our company will continue to serve those who rely on us."

Verizon indicated it approached the negotiations with an objective of preserving good jobs while making critical changes to legacy contracts, wherever needed. The company said that its proposal included 6.5 percent increase in wage over the contract term.

On Monday, Verizon shares lost 0.84 percent.