Verizon reaches deal with unions for 4-year contract

Striking Verizon employees may be back to work the week of May 31 after the company and its unions reached an agreement in principle for a four-year contract. About 39,000 Verizon Communications Inc. landline and cable employees in nine Eastern states and Washington (DC) have been on strike since April. They had been working without a contract since August.

Labor Secretary Thomas Perez said that the agreement is being written and will be submitted for approval from union members of Communications Workers of America and International Brotherhood of Electrical Workers. "I expect that workers will be back on the job next week," Perez said. Details of the contract were not disclosed. CWA President Chris Shelton said in a statement that the agreement is "a victory for working families."