There must be more to this than what I can make of it. Appears to be a win for the union. How does Verizon state they got what they needed to be more competitive in the industry. What are they getting out of this contract in order to do that?
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Company got what they needed to make the sale.
They will get workforce flexibility out of this with the enhanced ISP they will shed members with job security and hire members without, and that will be the biggest win for the company, when work is done in an area they will let them move to where the work is or be laid off. So essentially they got what they were looking for just a different way.
@owu. The pension band increases 3% over the contract. and vz cant manipulate the gatt rate.
@It says the 4 year contract is retro'd to aug 2015 and ending on aug 3 2019. We don't get back OT, but we get the 1,250 bonus.
@VVP
Potomac and NY are verizon's biggest money makers on the wireline side.
Those regions will NEVER be sold.
The company will achieve cost savings and cost avoidance through healthcare plan design changes, adopting Medicare Advantage plans for our retirees, maintaining limits on post-retirement healthcare costs, and freezing the mortality table for lump sum pensions using the GATT rate.
I’m not sure what that last line means exactly. I assume it’ll mean lower lumps sums however.
- Company Withdrawals -- Since the time we went on strike because of the Company’s last best and final offer, the following regressive company demands have been withdrawn:
a. Job security provisions
b. Force adjustment plan
c. Temporary transfers across state lines
d. Sunday tours
e. Article 8
f. Pension capped at 30 years
g. Class II dependents
h. Disclaimer for EIPP
i. Changes to Sickness and Accident Disability Plan
j. Contracting of poles
k. Contracting of Inbound demand center work
l. Contracting of FNT, FCSA work
m. Closing16 call centers in NY, NE, and Mid-Atlantic. This was reduced to 2 with minimal disruption.
n. Language about state and municipal paid leave laws
o. Tuition Assistance only for job-related studies
Details:
http://local1101.org/story/final-bargaining-report-details-tentative-agreement-memorandum-understanding
eyy,
So where is a good summary of the good, the bad and the ugly details of the contract that is supposedly released with details? I saw some bullet points of the positives, where are the details of where we are giving up items?
the contract states pay increases on the anniversary date of ratification, can I assume that means the 4 years starts from ratification as well... it doesn't say anything about retro starting from last August
The details are out. Did you just up from under a rock?
Verizon lost! Lowell is out .Remember this statement. We walked to show him who was boss. Shareholders angry! All this expense and the management team could not handle it. 200 million dollar loss. Now we have to work overtime to clean up behind you all. We built this company!!! You need us!! Butt wipes.
Have you seen the healthcare plan OP? The company is getting tons of savings out of that and they really gave up nothing that they didn't expect to give up.
They are placating us by acting like we actually won anything, but we got exactly what they wanted us to get and can now move forward with selling us off.
Verizon took it like a 150lb cellmate getting violated by 280lb bubba. Brahahahahahahahahahahahaha!!!!!
Hundreds of millions of dollars of health care savings. And a signed contract so now the sale can be done.
Very easy to see and exactly what they wanted.
No one has seen the details.....