NEW YORK — Verizon and two unions representing 65,000 workers who had threatened to strike within hours agreed Sunday on a three-year contract that provides 10.5 percent wage increases and changes in retirement benefits.
The pact, which must be ratified by union members, was hailed as a “breakthrough agreement in many ways” by Communications Workers of America president Larry Cohen.
The deal “provides . . . a good standard of living with careers for our members,” Cohen said.
It also extends union recognition to 600 former MCI technicians who had sought it since joining Verizon two years ago, the union said. Verizon said another 900 temporary employees would be regularized.
Verizon executive vice president Marc C. Reed said the contract will allow the company to remain “focused on delivering to our customers the best in broadband, communications and entertainment.”
