Verizon strike delays XO acquisition

The Verizon workers’ strike is delaying Verizon’s acquisition of XO Communications’ fiber network, a $1.8 billion dollar deal announced in February. At an event in Boston, an XO vice president told the audience that the deal has been delayed due to the strike. This is the most recent harm Verizon’s leadership has caused the company by refusing to negotiate and settle a fair contract.

Workers represented by the Communications Workers of America and the International Brotherhood of Electrical Workers have been on strike for a month followingten months of intensive negotiations to reach a fair contract. They’ve beensupported by elected officials and a union strike fund. Verizon’s attempt to train lawyers, accountants, and managers to do the work of skilled, trained frontline technicians and customer service representatives has failed. Verizon customers are experiencing installation delays and the company warned its shareholders that second quarterprofits could be lower than expected.

It’s a big deal to go on strike, but Verizon workers havehad enough. Verizon – which made $39 billion in profits in the past three years and $1.8 billion every month in 2016 – continues to demand deep cuts in health care benefits, pensions, offshoring work, sending call center work overseas, and the ability to send technicians to work away from home for months at a time

“My co-workers and I want nothing more than to help our customers get the service and quality they want and deserve and provide for our own families,” said Verizon field technician Anthony Finocchio, who walked off the job on April 13. “By settling a fair contract that protects good jobs in our communities, Verizon can reestablish itself as a company that values its customers and invests in its own long-term strength and success.”

Verizon Strike Stalls XO Acquisition, Worries At Least One Master Agent (Channel Partners, May 9, 2016)

CWA and IBEW set to go on strike at Verizon (Speed Matters, Apr. 11, 2016)

Verizon strike gains strength, support from presidential candidates and elected officials (Speed Matters, Apr. 19, 2016)

Verizon strike hurting company profits (Apr. 25, 2016)