August 21, 2011- Over 45,000 Verizon workers that have been on strike in the northeastern part of the U.S. will start returning to work while talks continue between the them and the company over some major issues. Job security, work flexibility and benefits were among the issues that are still to be negotiated and agreed upon, Verizon announced in a prepared statement.
Because of the continual decline in land-line phone business the company has been looking for employees to help with health insurance payments on premiums and for work rules changes. The employees are saying since earnings continue rising they should not have to make these kinds of concessions while pay to executives remains high as well.
Since the negotiations are complicated and the situation will take time there has been no deadline set and the two sides will meet again next week and set up a schedule for further meetings. The agreement between the two sides to have workers return to work during the negotiations has helped to lower tensions and create a better atmosphere for negotiating.
The new agreement to return to work will end the walkout that began on August 7th in nine states plus the District of Columbia. This was the largest labor walkout since over 70,000 GM workers in 2007 went on strike.