Verizon Communications, Inc. and the unions representing nearly 40,000 striking workers have reached an “agreement in principle” on a four-year contract, according to U.S. Labor Secretary Thomas Perez.
The agreement resolves open issues in the ongoing labor dispute between Verizon’s workers, unions, and management, according to the labor secretary.
“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,” Perez said in a statement on Friday.
