Verizon, unions continue talks after current deal expires

Verizon (NYSE: VZ) continues its negotiations with two key unions, and has so far avoided a work stoppage, even though its current collective bargaining agreement expired Saturday.

Verizon is currently in contract talks with the Communications Workers of America (CWA) and the International Brotherhood of Electrical Workers (IBEW), two unions that collectively cover 39,000 members of Verizon's work force.  

The possibility of a strike is looming if progress can't be made in the ongoing negotiations. CWA leaders have criticized Verizon's initial proposal for a new contract, which called for 2 percent wage increases this year and in 2016, as well as a $1,000 lump payment in the third year of the deal. 

FierceTelecom, which has been actively covering Verizon's negotiations with the CWA and IBEW, has a complete update here. 

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