Verizon (VZ) Stock Declines as Striking Workers Pressure New Customers

NEW YORK (TheStreet) -- Verizon Communications (VZ) shares are taking a hit, down 1.49% to $49.63 on Thursday as the ongoing strike by union workers over a contract has adversely impacted the company's new customers.

Union workers have taken action as they are trying to enhance pension benefits and prevent Verizon from outsourcing jobs to contractors.

At a media and communications summit in New York today, Verizon said that the strike has led to a significant drop in new customers this quarter, Fortune reports.

Specifically, installations and new orders of FiOS service have declined, CFO Fran Shammo noted.

The strike, which has been going on for over a month, began on April 13 when 36,000 Verizon workers walked off the job at the telecommunications giant's wire line business, traditional-phone, TV and Internet businesses, after 10 months of tense contract negotiations.

https://www.thestreet.com/story/13578374/1/verizon-vz-stock-declines-as-striking-workers-pressure-new-customers.html

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To the posters below.... if other people had asked what to do in protest.. Yea I guess suggesting a different carrier would be a suggestion. In this case however I was dealing with an "install" I saw going on by scab/EWA workers. This was the situation that at hand that I wanted to deal with and had every right to do so. In the end the descision was there's to make. I hope they chose to cancel until the Union came back.

Iqz... It's your choice to believe me or not. Personally it's no matter either way.

Google stock is down 49 dollars over the last 30 days. When will google get their business in order.

@HtsoPGM-ilw

How it will help you or Union , didnt follow the logic?

Did Cablevision is paying more salaries / perks than Verizon? Are they union workers or doing sub-contracting.

Recently i ordered TWC in my area and they outsourced to third party and honestly they didn't even do the better job, first of all, i dint allow them to enter my premise as their truck dint say TWC?

Its not good / fair to back-stab the own company , if you don't like VZ , quit VZ

Based on your eloquence, should all your neighborhood have switched their services to other companies? Good story but not real.

Saw a neighbor the next street over getting fios installed at his house. Stopped by and introduced myself to the neighbor as a CWA employee on strike with Verizon. Was very polite to them and they were to me. Only asked for a minute of there time...which they accepted. Quickly explained the strike and the workers they had at there house. Turned out they had a manager and 2 out of town scab workers (they actually came outside while I spoke to the home owners... The manager introduced himself as one).

The home owner politely listened..and asked me one question. What were his options. I said If it was me I would send them away and have the install done by the regular union employees when Verizon and the union settle the contract. If waiting isn't an option there is always Cablevision. However in the long run you have to do what your heart feels is the right thing to do.

And with that I said goodbye.

No sooner did I get in my driveway.. I saw the Verizon trucks drive away and haven't returned.

Says you. You don't make Vz decisions.

But VZ says don't care about FIOS only VZW. Wireless is the new VZ.

Thread regarding Verizon Communications Inc. layoffs

Verizon (VZ) Stock Declines as Striking Workers Pressure New Customers

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