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The
new contract, effective immediately, will run until Aug. 3,
2019, Verizon said in a statement. Last month, a tentative deal
was reached that included 1,400 new jobs and pay raises topping
10 percent.
Since May 31, union members had been casting votes that were
tallied by the unions.
Workers including network technicians and customer service
representatives in Verizon's Fios internet, telephone and
television services units walked off the job on April 13 after
contract talks reached an impasse. The action was called by the
Communications Workers of America (CWA) and the International
Brotherhood of Electrical Workers.
The previous contract expired in August, and healthcare coverage
ran out at the end of April. Sticking points in contract
negotiations had included job relocations, offshoring
call-center jobs, pensions and healthcare coverage.
Employees resumed work on June 1 after the tentative deal was
reached.
New York-based Verizon said it would add 1,300 call center jobs
on the East Coast, and 100 new network technician jobs. It also
agreed to withdraw proposed cuts to pensions and accident and
disability benefits.
The company won cost savings through changes in healthcare plans
and limits on post-retirement health benefits.
The strike will hurt second-quarter earnings and potentially
cost up to 7 cents per share, Verizon's chief financial officer
said earlier this month.
Verizon and the two striking unions were in contract discussions
with the help of the U.S. Department of Labor. In mid-May, U.S.
Labor Secretary Thomas Perez brought the parties back to the
negotiating table.
The strike, one of the largest in recent years in the United
States, drew support from Democratic U.S. Presidential
candidates Bernie Sanders and Hillary Clinton.
(Reporting by Malathi Nayak; Editing by Diane Craft and Richard
Chang)
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