45,000 Verizon Communications, Inc workers have gone on strike, after labor talks with the wireline carrier failed Saturday. Originally set to expire at midnight on Saturday, Aug. 6th, workers rejected the contract changes that Verizon was seeking. Verizon executive vice president of human resources, Mark C. Reed, called the outcome of talks "regrettable", after workers rejected over 100 concesions regarding health care, pensions, and work rules. "We will continue to do our part to reach a new contract that reflects today's economic realities in our wireline business and addresses the needs of all parties," he said in a statement.
"Even at the 11th hour, as contracts were set to expire, Verizon continued to seek to strip away 50 years of collective bargaining gains for middle-class workers and their families," said the Communications Workers of America.
Even though almost a quarter of Verizon's work force went on strike, the wireline and internet provider has a fallback plan. "Tens of thousands of Verizon managers and other personnel have been trained to step in and perform emergency work assignments," Verizon spokesman Rich Young said.
We will continue to monitor the situation, and bring you new developments as they happen.