Verizon, unions reach deal in principle for 4-year contract
NEW YORK (AP) — Striking Verizon employees may be back to work next week after the company and its unions reached an agreement in principle for a four-year contract.
Verizon said that it had high health care costs for its unionized workers, which have shrunk as it sold off large chunks of its wireline unit and focused on its mobile business, which was not unionized.
The president of the Communications Workers of America union, Chris Shelton, did say in a statement that the agreement is a "victory for working families" and that there will be new union jobs at Verizon.