Unions to Begin Bargaining with Verizon for New Contract

The Communications Workers of America , a union representing 60,000 employees at Verizon Communications, said it is optimistic on reaching a "fair agreement" with Verizon before its current contract expires on 02-August-2003. In a press statement, CWA President Morton Bahr pointed out that Verizon brought in revenues of $67.6 billion and reported profits of $4.1 billion in 2002, despite the telecom slump. While the U.S. productivity rate grew 5.9% between 2000-2002, in that same period, Verizon's productivity, measured in revenue per employee, grew 14.9%. In addition to the preservation of quality jobs and access to jobs in the new growth areas of the company, the CWA is calling on Verizon for improvements in pensions and a wage increase that accounts for the workers' increased productivity.
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