Verizon reaches “agreement in principle” on new contracts for about 36,500 employees

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WASHINGTON – Verizon, the CWA and IBEW reached an “agreement in principle” on new contracts today primarily for the company’s wireline employees and a small number of wireless employees in the Northeast. The agreements were achieved under the auspices of U.S. Labor Secretary Thomas Perez and assisted by the director of the Federal Mediation and Conciliation Service, Allison Beck. The following statement should be attributed to Marc Reed, Verizon’s chief administrative officer:

“Verizon is very pleased with this “agreement in principle.” The agreement is consistent with our objective of creating high quality American jobs and achieving meaningful changes and enhancements to the contracts that will better enable our wireline business unit to compete and succeed in the digital world.

We also reached an “agreement in principle” on contracts for about 165 Verizon Wireless employees.

In the meantime, we look forward to having all of our employees soon back at work in their regular positions and doing what they do best – serving our customers.”

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