Well if you are a Verizon stockholder, you aren’t happy this morning.
More than 45,000 Verizon workers are on strike today, essentially crippling their labor force until their demands are met. The workers include employees in Southampton, who stood out with signs in front of the Verizon station just down the street from the Southampton train stop.
Even though the traffic on David White’s Lane is not very high, the workers there were absolutely making their point and stood unified, all wearing same colored t-shirts. The workers are the men and women responsible for the Verizon Fios cable lines as well as the telephone lines. Verizon has been increasing their healthcare costs and demanding other concessions from its workers, and is also noticing that the future of the hard wire businesses are becoming less and less important to their revenues.
CWA and the International Brotherhood of Electrical Workers are the men and women behind the strike and this is the first strike that has taken place by Verizon employees in 11 years.
Get these men and women back to work! Revenues aren’t declining enough in the hardline business for these guys to get screwed, and a strike like this is terrible PR for Verizon.