Verizon Communications Reaches Tentative Contract Agreement With Unions

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9/19/2012 5:01 PM ET

Verizon Communications Inc. (VZ: Quote) said Monday that it has reached a tentative agreement with the Communications Workers of America and the International Brotherhood of Electrical Workers on new, three-year contracts for about 43,000 East wireline associates. The agreement is in the process of being signed.

The agreement was achieved through lengthy negotiations and mediation conducted under the auspices of the Federal Mediation and Conciliation Service, or FMCS.

The unions will submit the agreement to their members for a ratification vote. If approved, the agreement will run through August 1, 2015.

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