Verizon reached a deal Friday with two labor unions representing 39,000 employees, Secretary of Labor Thomas E. Perez has announced. The four-year agreement is now being put into writing, and the employees are expected to go back to work next week.
The deal puts an end to six weeks of strikes over pay and pension cuts. Between 35,000 and 39,000 Verizon employees walked off their jobs in April, making it the largest strike in U.S. history.
"This tentative resolution is a testament to the power of collective bargaining. I commend the leadership of Verizon, CWA, and IBEW for their commitment to resolving these difficult issues in the spirit of constructive engagement. I expect that workers will be back on the job next week,” Perez said in a statement.
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