Some 45,000 unionized workers at Verizon striking from Aug 7. The strike was called after negotiations broke down between Verizon and two unions representing the workers, Communications Workers of America and the International Brotherhood of Electrical Workers. Verizon was attempting to cut health and pension benefits for workers and make it easier for the company to fire workers. Verizon, the nation’s second-largest U.S. phone carrier, earned $6.9 billion in net income for the first six months of the year. It is the first strike at Verizon in 11 years.
Verizon financials
- 2011 annualized revenues are $108 billion and annualized net profits are $6 billion.
- Verizon Wireless just paid its parent company and Vodaphone a $10 billion dividend.
- Verizon’s top five executives received compensation of $258 million over the past four years.
[youtube=http://www.youtube.com/watch?v=GXeZZSsZSEw&feature=related]