Verizon, 2 unions agree on new contact

August 11, 2008 5:44:38 AM PDT
Verizon Communications and two unions representing 65,000 workers have agreed on a new three-year contract. The tentative agreement reached yesterday provides 10.5 percent wage increases and changes in retirement benefits.

The Communications Workers of America says the proposed contract also extends union recognition to 600 former MCI technicians who had sought it since joining Verizon two years ago.

The proposed contract applies to workers in 10 northeastern and mid-Atlantic states and Washington, D.C.

The CWA and the International Brotherhood of Electrical Workers had threatened to strike at 12:01 a.m. today if no agreement was reached.

No date has been set for union members to vote on the deal.