Verizon Reaches Tentative Labor Agreements With Two Unions in Multiple States
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IRVING, Texas - Verizon has reached tentative agreements with both the Communications Workers of America and the International Brotherhood of Electrical Workers on new, three-year contracts covering approximately 400 employees in 10 states.
The employees work in a division called the National Buried Service Wire Group and are responsible for the location and placement of underground telecommunications facilities and equipment. Employees in this group are located in California, Florida, Idaho, Illinois, Oregon, North Carolina, South Carolina, Texas, Virginia and Washington.
Ratification of the tentative agreements will be voted on by the employees in the coming weeks. Existing three-year contracts were to expire on March 6.
"We are very pleased that we were able to continue the Verizon heritage of providing excellent wages and family-friendly benefits for our employees," said Ron Johnson, Verizon director of Labor Relations, who led the Verizon bargaining team. "In addition, the work practices we agreed on ensure that the organization will be able to manage its operations competitively and efficiently."
The new contracts, which run through March 6, 2007, provide for a 12-percent general wage increase over the life of the contracts, with annual increases of four percent. Improvements have been made in short-term disability plans, medical, dental, vision and hearing coverage, adoption assistance and holiday allowance. A new element of the contracts states that covered employees in the group will have a streamlined process for applying for future Verizon job openings in construction, maintenance and installation functions.
A Fortune 10 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.