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Verizon & Unions Reach Agreement

HeadlineAug 11, 2008

In labor news, Verizon and its two major unions have reached a tentative three-year contract averting a possible strike. Under the deal, workers will receive raises totaling nearly 11 percent, and the company will continue to pay 100 percent of current workers’ and retirees’ health premiums. However, as part of the agreement, Verizon will no longer pay all the health insurance premiums for newly hired workers after they retire.

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