And yet you didn't believe me.
3 replies (most recent on top)
Actually, it's the LBFO that they are moving forward with. The only material adjustment is the length of the contract. (4 yrs instead of 2).
The union realized this thing was going to result in a lot of lost jobs if they didn't cave. Good for them for doing the smart thing.
Well faced with NY state unemployment kicking in, Verizon knew a lot of leverage would be lost. Union Employees in NY gave back the Max of 10K. Once unemployment kicked in the bleeding would stop and VZ savings on payroll would be mitigated. No upside for Verizon to continue. The loss of customers and brand name was all VZ was facing. It's billion training facility turned out workers worth 5 cents. Experiment over. We'll have to see the details to see if there is a winner. Stock is up though!
I believed ya man, I really did.