After entering its second month, and after being pushed by the Obama administration to settle the disputes between Verizon executives and the union worker groups, the strike may finally be over.
A potential and tentative agreement has been struck between Verizon Communications Inc. And the union leaders. The deal includes 1,400 new jobs and pay raises of an additional 10%. The new deal hopes to end the picketing of over 40,000 workers - who walked off during the day back in April. These workers consist of technicians and customer service representatives for the company's FiOs internet, phone, and television services.
According to Reuters, calculations were made to achieve the raises. Roger Entner, a Recon Analyst, says "They needed to end the strike and they bit the bullet."
After reaching an agreement, striking workers are expected to get back on the job on Wednesday, the CWA said. The tentative contract will mean an additional 1,300 call center jobs on the East Coast and a hundred new technicians. The company will withdraw pension cuts and benefits reduction, too. However, there will be changes in healthcare plans and post-retirement benefits.
The tentative agreement is not yet final. Union leaders must sign on it before it's fully approved. If union members ratify the agreement, the new contract would run until August 2019.
To signify this, local union members will be getting notices for votes through mail and meetings. Bob Master, assistant to the vice president at the CWA, said, "We're pretty confident the members will be supportive of the agreement," citing the closeness between the leadership and its members.
After reaching its second month, the Verizon 2016 strike may be drawing to a close - all it needs now are the votes of its members and for the workers to come back to work.