Union Strike

Verizon Union Strike 2013

The union employees and Verizon, the two sides have been discussing agreements for better than a year but have thus far to make any substantial improvement on health care, pension and work rule modifications wanted by Verizon. Health care is possibly the biggest problem to a settlement. Verizon ask that unionized workers, who do not pay to their monthly health care premiums, to contribute at least twelve hundred dollars a year to aid in the offset of what has been at least five years drop in sells of the company's landline business. Verizon spends more than three billion dollars a year on health care and has over hundred thousand nonunion employees who do pay to their premiums.

Verizon is also seeking to freeze pensions for current employees and get rid of defined benefit pension plans for new employees. In the deal with the union and Consolidated Edison Inc. states, the union doesn’t provide benefit annuities for new employees, but the retirement benefits of existing workers stayed unharmed.

Regardless of increasing revenues, Verizon has claimed that it is facing solid competition from non-union corporations that offer options to landlines. Almost every one of the forty-five thousand workers work for the corporation's landline industry. Verizon reported earnings of $1.83 billion in the following quarter, up thirteen percent from a year previous, mainly on the base of advances in its wireless business. Profits grew almost four present to twenty-eight billion dollars last year.

The union members might have no option then to strike if Verizon enforces new contract regulations. The employees have been functioning under their past agreement while going back to their careers. Verizon probably wishes to reach a certain budget investments accomplished with these proposed modifications rather than remaining under the terminated agreement for an indefinite period. The union members will have to provide seven days' notification of any...