Verizon Reaches 4-Year Deal With Striking Labor Unions

PHOTO: Striking Verizon Wireless workers and members of the Communications Workers of America union march outside of a Verizon Wireless store on F Street in Washington, May 19, 2016.Samuel Corum/Anadolu Agency/Getty Images
Striking Verizon Wireless workers and members of the Communications Workers of America union march outside of a Verizon Wireless store on F Street in Washington, May 19, 2016.

Verizon Communications Inc. has struck a deal in principle with two unions for a four-year labor agreement, U.S. Secretary of Labor Thomas Perez said today.

The workers will be back on the job next week, Perez said.

“Today, I am pleased to announce that the parties have reached an agreement in principle on a four-year contract, resolving the open issues in the ongoing labor dispute between Verizon’s workers, unions, and management," Perez said in a statement. "The parties are now working to reduce the agreement to writing, after which the proposal will be submitted to CWA and IBEW union members for ratification."

The deal was struck through 13 days of negotiations at the Department of Labor, Perez said, adding he has observed the parties' "good faith commitment to narrowing differences and forging and agreement."

On April 28, Verizon made its "last, best and final offer," the Associated Press reported, but negotiations restarted in Washington, D.C., on May 16, Perez said.

Last month, about 40,000 Verizon workers in nine East Coast states walked off their jobs, according to the AP.

The 44-day strike was plagued with dangerous and threatening activity. Two members of the Communications Workers of America in Delaware were ordered to pay for repairs to damaged vehicles, according to the AP, while Verizon claims striking workers had threatened, intimidated and harassed non-union employees.