Perfect summary of what was what from yesterday's earnings.
https://finance.yahoo.com/video/were-highlights-verizons-quarter-174649528.html
So then, I just can't help to ask myself, why didn't the company just renew the contract?
As manager, that makes no sense. Like someone else wrote, what is the incremental benefit of not renewing? What tangible savings will that result in to offset the decrease in customer service and bad PR.
I should have proofread that sorry.. "Somehow they must have some kind of algorithm"
It's a valid question. Some math that I just do not know would hep. For instance, how many people are under the new no pension system from 2011 vs the old system. How many under the old are projected to retire say within the next 5 years ? You can count me in for that one cause after 35 years.. I'm all set with working. Why people work more than that is beyond me. They retire and then the next thing you know they have their 15 seconds of fame on the "It is with deep regret I announce" union tape.
So how they must have some kind of algorithm to where they know the bleed out of the legacy folks. I can't see that it is that much of an economical impact to the company depending upon how the numbers shake out but I don't have the math in front of me so I could be totally off. But as you say, is it enough of what they consider an astronomical imbalance to have this fight? Is it something more than that though? Is it that they see disintegrating the union to the point where it neutralizes the remaining employees to never bother organizing? To what benefit would they say..
Do we even know if the Unions said.. Instead of a 30 year cap, we will agree to a 35? We also do not know if that has already been agreed upon and this strike is window dressing..
If you are under the new system, you do not even get a pension so you might be asking yourself what the hell am I striking for? Let's be honest here, it's about money and that question is a big one for those not getting that benefit.