U.S. Labor Secretary Thomas Perez announced that Verizon and the unions have reached an "agreement in principle" on a four-year contract. He said he expects Verizon's (VZ, Tech30) striking workers to be "back on the job next week."
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After working without a contract since August, Verizon union workers walked off the job on April 13. The main sticking points were complaints about poor working conditions, pensions being capped at 30 years of service and jobs getting shipped overseas.
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