Xcc - while you are correct that Verizon management is not under any obligation, The networx contract with the gov't is coming up for bid shortly (half a million bucks +) and Verizon is the incumbent.
That bid is NOT something Verizon can afford to lose -- the revenue hit would be tremendous. And I don't think it would look good for Verizon to be perceived as not working in good faith or having labor relations resulting in 40,000 people losing their jobs.
I have a hunch this will get worked out now that the gov't is involved, and the result will be something where neither party will be thrilled (which is about what a negotiation like this should be).
The company has stood firm and will continue to, but make no mistake the EIS / Networx deal is on the back of their minds.