Market Overview

36,000 Verizon Employees Are Going On Strike

36,000 Verizon Employees Are Going On Strike
Related VZ
John Legere Unleashes Tweetstorm Following T-Mobile Earnings Beat
Telecomms: The Most Interesting Sector Going Into Earnings
Comcast Earnings On Tap Amid AT&T-Time Warner Deal (Investor's Business Daily)

Verizon Communications Inc. (NYSE: VZ) revealed its efforts to reach an agreement with the labor unions, CWA and IBEW, failed to happen. The company also said the unions were not ready to seek the Federal Mediation and Conciliation Service assistance. Instead, the unions have called for a strike from 6 a.m. on Wednesday. As a result, the telecom firm activated its strike readiness plans.

Verizon Communications indicated it activated its business continuity plans thus according top priority to the customer services. The company claimed it tried to strike deals in the last 10 months for its 36,000 wireline associates in the East.

The company's Chief Administrative Officer, Marc Reed, commented, "It's regrettable that union leaders have called a strike, a move that hurts all of our employees". He continued to say that "Since last June, we've worked diligently to try and reach agreements that would be good for our employees, good for our customers and make the wireline business more successful now and in the future. Unfortunately, union leaders have their own agenda rooted in the past and are ignoring today's digital realities. Calling a strike benefits no one, and brings us no closer to resolution."

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

Similarly, its President for Wireline network operations, Bob Mudge, said, "Millions of Americans rely on Verizon for the ability to communicate, 24 hours a day, 7 days a week. We remain fully prepared to handle any work stoppage so that our products and services will be available where and when our customers need them."

The company said its online support tools are available at its website.

Image Credit: Public Domain

Posted-In: labor strike Verizon strikeNews Top Stories Tech Press Releases Best of Benzinga


Related Articles (VZ)

View Comments and Join the Discussion!