Verizon's attempts to reach a constructive new contract with two unions representing the company's wireline employees in the Northeast and Mid-Atlantic states were unsuccessful, and union leaders announced a decision to call a strike. In anticipation of this development, Verizon has activated a contingency plan to ensure customers experience limited disruption in service during this time.
Verizon has trained tens of thousands of management employees, retirees and others to fill the roles and responsibilities of its union-represented wireline workers. As part of the company's business continuity plan, these individuals will be reporting to their emergency work assignments, as scheduled, and will continue to provide customers with high-quality support and assistance throughout the duration of the union strike.
"We are confident that we have the talent and resources in place to meet the needs and demands of our customers," said Marc C. Reed, Verizon's executive vice-president of human resources. "It's regrettable for our employees and our customers that the Communications Workers of America and the International Brotherhood of Electrical Workers have decided to walk away from the table instead of continuing to work through the issues. We will continue to do our part to reach a new contract that reflects today's economic realities in our wireline business and addresses the needs of all parties. It's also our intent that under a new contract, Verizon employees will continue to receive competitive pay and benefit programs."
Verizon Wireless customers and services remain unaffected by this job action.
Verizon Communications Inc. (NYSE, NASDAQ:VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to consumer, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, with more than 106 million total connections nationwide. Verizon also provides converged communications, information and entertainment services over America's most advanced fiber-optic network, and delivers integrated business solutions to customers in more than 150 countries, including all of the Fortune 500. A Dow 30 company, Verizon employs a diverse workforce of nearly 196,000 and last year generated consolidated revenues of $106.6 billion. For more information, visit www.verizon.com.