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

Verizon (NYSE: VZ) (NASDAQ: VZ), the CWA and IBEW have reached an agreement in principle on new contracts for the company´s wireline employees and a small number of wireless employees in the Northeast, the company said.

The agreements were achieved under the auspices of US Labor Secretary Thomas Perez and assisted by the director of the Federal Mediation and Conciliation Service, Allison Beck.

Verizon Communications Inc. generated nearly USD132 billion in 2015 revenues. Verizon operates 112.6 million retail connections nationwide. The company also provides communications and entertainment services over an advanced fiber-optic network, and delivers integrated business solutions to customers.