IRVING, Texas - Verizon and the Communications Workers of America (CWA) Local 6171 reached a tentative agreement today on a five-year labor contract covering approximately 114 Texas-based employees who work in the company's Supply Chain Services organization.
The contract follows by just a few hours a separate tentative agreement reached between the company and the union early this morning for 3,100 largely technician and customer service representative employees in Texas.
The tentative Supply Chain Services agreement represents an early settlement, since this contract was due to expire at midnight on Aug. 21. Employees in this group handle logistics and electronics repair functions in the state.
Like the tentative agreement for the larger group, the agreement for the Supply Chain Services employees includes an immediate 4-percent lump-sum payment to union-represented employees in the first year of the contract. In addition, base wages will increase 1 percent in the first year, 2 percent in the second year, and 2.5 percent in the third, fourth and final years of the contract.
In addition, like the agreement reached earlier today, the Supply Chain Services agreement includes increased provider options in medical plans, increased company-provided contributions for retiree medical insurance, and increased pension levels.
Many of the same provisions of the larger tentative agreement will also apply to the Supply Chain Services contract.
A Dow 30 company, Verizon Communications (NYSE:VZ) is one of the world's leading providers of communications services, with approximately $68 billion in annual revenues. Verizon companies are the largest providers of wireline and wireless communications in the United States. Verizon is also the largest directory publisher in the world, as measured by directory titles and circulation. Verizon's international presence includes wireline and wireless communications operations and investments, primarily in the Americas and Europe. For more information, visit www.verizon.com.