After 13 days of talks at the U.S. Department of Labor, the six-week old strike by labor unions against the mostly landline and Internet side of Verizon appeared to have reached a tentative agreement Friday afternoon. U.S. Labor Secretary Thomas Perez announced that Verizon and the unions have reached an “agreement in principle” on a four-year contract. He said he expects Verizon’s (NYSE: VZ) striking workers to be “back on the job next week,” CNN reported. One twist on the possible deal is that it opens the door to Verizon’s wireless retail store entering into a union contract. Both the company and the unions confirmed a deal had been struck but specific details were not released.
However, the Communications Workers of
America said Verizon has agreed to add “good union jobs” on the East
Coast as part of the agreement, CNN
said. The CWA also said the agreement will improve the living standards
of working families, and paves the way for the first contract for
wireless retail store workers. Continue Reading