backtop


Print 66 comment(s) - last by overlandpark4m.. on Aug 11 at 10:26 PM


  (Source: boston.com)
Unions are challenging Verizon's recent decisions to cut pensions, change work rules and make employees pay more for healthcare

We are living in an increasingly wireless world, where smartphones, tablets, laptops and many other gadgets can be seen around every corner. With so many wireless device options, more and more people are getting rid of their landline phones, and Verizon has certainly recognized these losses. 

Due to this evolution in the way we communicate, Verizon has seen a decline in its wireline business (landlines and FiOS services) over the past decade, and is now looking to keep costs "in check." Some of these changes include cutting pensions, changing work rules and making employees pay more for healthcare.

Two unions -- the Communications Workers of America and the International Brotherhood of Electrical Workers -- which represent 45,000 Verizon employees, entered into contract negotiations with Verizon in late June. The unions are challenging Verizon's proposal that employees pay $1,300 to $3,000 for family healthcare coverage, as well as the freezing of pensions for current employees, the elimination of pensions for future employees, and the limitation of five sick days per year when there was no previous limit. In addition, Verizon wants to make it easier to lay off employees without buying them out and give raises based solely on job performance, allowing the company to deny annual raises to employees that don't measure up.

Verizon responded by saying its unionized employees are "well paid," with many field technicians making $100,000 a year including overtime as well as $50,000 in benefits. The unions said field technicians make $60,000 to $77,000 a year without overtime and that benefits do not reach $50,000 a year.

Both sides could not reach an agreement, and at 12:20 a.m. on Sunday, August 7, the 45,000 union workers at Verizon's U.S. Northeast wireline unit went on strike

"Since bargaining began on June 22, Verizon has refused to move from a long list of concession demands," said the unions in a statement. "Even at the 11th hour, as contracts were set to expire, Verizon continued to seek to strip away 50 years of collective bargaining gains for middle class workers and their families."

Verizon released a statement early Sunday morning, saying that it was unsuccessful in reaching an agreement with the unions, and that it activated a contingency plan to make sure landline customers were not affected during this time. 

"It's regrettable for our employees and our customers [that the unions] have decided to walk away from the table instead of continuing to work through the issues," said Mark C. Reed, Verizon's executive vice president of human resources.

Despite Verizon's statement, Candice Johnson, a spokeswoman for the workers on strike, said that the talks had continued at 12:30 a.m. 

Verizon is currently filling the positions of these workers with tens of thousands of management retirees and employees, and it feels confident that its wireline services will continue without any problems.

Verizon Communications shares fell 3 percent in premarket trading on Monday after the strike had began.



Comments     Threshold


This article is over a month old, voting and posting comments is disabled

RE: Seriou$**
By gixser on 8/8/2011 5:24:03 PM , Rating: 1
Yes, many children of the rich do indeed "do something to get where they are today". Like attend the best schools, see the best Dr's, have the nutrition they need, the shelter, the support and other resources to "do something". e.g. They aren't burdened with crippling student loans. Most of all, they never, for a moment, doubt their ability to achieve. Of course, its still a competitive environment but at least they make it to the start line with every tool at their disposal. The great myth in America is that it is an even playing field. If you think it is an even playing field then you are (a) deluded or (b) playing with a homefield advantage.

Having said that...I have busted my ass to make some money and I would be pissed if my progeny didn't benefit from my work after my death.

I think the following is apropo.

Effective Tax Rate of Richest 400 Americans:

http://www.quickanded.com/2010/02/effective-tax-ra...

Some graphs re wealth inequality that may or may not be accurate: http://www.businessinsider.com/15-charts-about-wea...

Warren Buffet on Taxes and the Inheritance Tax (From Wikipedia)
Source: http://en.wikipedia.org/wiki/Warren_buffet

Taxes

Buffett stated that he only paid 19% of his income for 2006 ($48.1 million) in total federal taxes (due to their being from dividends & capital gains), while his employees paid 33% of theirs, despite making much less money.[130] “How can this be fair?” Buffet asked, regarding how little he pays in taxes compared to his employees. “How can this be right?” He also added:
“There’s class warfare, all right, but it’s my class, the rich class, that’s making war, and we’re winning.”[131][132]

Buffett favors the inheritance tax, saying that repealing it would be like "choosing the 2020 Olympic team by picking the eldest sons of the gold-medal winners in the 2000 Olympics".[133] In 2007, Buffett testified before the Senate and urged them to preserve the estate tax so as to avoid a plutocracy.[134]

Some critics have argued that Buffett (through Berkshire Hathaway) has a personal interest in the continuation of the estate tax, since Berkshire Hathaway has benefited from the estate tax in past business dealings and had developed and marketed insurance policies to protect policy holders against future estate tax payments.[135]


RE: Seriou$**
By Nfarce on 8/8/2011 6:53:38 PM , Rating: 1
Buffet is well known for loving to pay more taxes. Let him do it! The top 10% of income earners paid 70% of all income taxes last year. The bottom 50% paid 0% after tax incentives and refunds like the EIC.

Finally, anyone who believes in the Marxist inheritance tax is definitely someone who doesn't believe in the freedoms America has to offer. If you don't think you are paying enough taxes, then by all means, pay more. Or donate the rest of your money. I see Warren Buffet still has plenty of his.


RE: Seriou$**
By KITH on 8/9/2011 3:55:02 PM , Rating: 2
Who ever said it was an even playing field? I think the idea is that everyone gets to play.


"If you look at the last five years, if you look at what major innovations have occurred in computing technology, every single one of them came from AMD. Not a single innovation came from Intel." -- AMD CEO Hector Ruiz in 2007














botimage
Copyright 2014 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki