Verizon, unions fail to reach agreement

Verizon (NYSE, Nasdaq: VZ) said it will continue negotiations with the CWA and IBEW to reach agreements on new contracts covering more than 37,000 wireline employees in the Northeast and Mid-Atlantic regions.

The contracts expired at midnight, Aug. 1, 2015. Although new agreements have not been reached, no strike has been called and employees will continue to work as negotiations continue.

“We are disappointed that after six weeks of good faith bargaining and a very strong effort by the company, we have been unable to reach new agreements with the unions,” said Marc Reed, Verizon´s chief administrative officer. “Our employees will remain on the job serving the needs of our customers. In the meantime, we´ll continue to meet with union leadership with the goal of reaching agreements that are good for our customers and our employees and put Verizon´s Wireline unit on a path toward success in the years to come.”

Over the past year, Verizon took extensive measures to ensure its customers would not be impacted by any potential work stoppage. Thousands of non-union Verizon employees and business partners have undergone extensive training in various network and customer service functions, including FiOS, copper repair and maintenance, and general customer service functions.

The company´s East associates work in nine states from Massachusetts to Virginia, and Washington, D.C.