May 16, 2016 04:53 AM EDT

Verizon Strike 2016 News: Company To Restart Negotiations With Union

In recent Verizon strike 2016 news, it was revealed that the telecommunications company and unions will be restarting their negotiations. The strike has hit its 30-day mark last Friday.

USA Today reported that Verizon and union officials will return to the bargaining table on Tuesday. This will come after they have a meeting with Labor Secretary Tom Perez.

Members of the Communication Workers of America (CWA) and International Brotherhood of Electrical Workers (IBEW) have joined the Verizon strike 2016. They constitute nearly 40,000 employees of the company.

On Sunday, Verizon CEO Lowell McAdam, CWA president Chris Shelton and IBEW president Lonnie Stephenson met with Perez in Washington. According to the department, the parties involved decided to renegotiate after "an open, frank and constructive dialogue."

"The best way to resolve this labor dispute is at the bargaining table, and I am heartened by the parties' mutual commitment to get back to immediate discussions and work toward a new contract," Perez said. ""I was singularly impressed by the parties' appreciation that time is of the essence, and their strong commitment to use the collective bargaining process to reach a mutually beneficial resolution."

It was previously reported that Verizon may be to blame for the high unemployment rate in the U.S. Economists have blamed the Verizon strike 2016 for aggravating the situation to a 14-month high since the data did not indicate a decline in the overall labor market.

"We have to look past the noise in the latest jobless claims number because it was likely influenced by the Verizon strike," Jacob Oubina, senior U.S. economist at RBC Capital Markets in New York, said. "The broader underlying trend in claims remains very constructive."

The Verizon strike 2016 began when employees walked off their jobs after decrying the company's policies and practices. One issue is the wide transfer radius for workforce transfers. It meant that the company can easily relocate employees without being liable for financial assistance.

Get the Most Popular Jobs&Hire Stories in a Weekly Newsletter
© 2017 Jobs & Hire All rights reserved. Do not reproduce without permission.
TRENDING ON THE WEB

Join the Conversation

Real Time Analytics