After 10 months of negotiations, Verizon sat down with union leaders to present a new contract. Included in the contract is more protection against layoffs and a 7.5% wage increase for employees. This contract comes after 36,000 Verizon employees went on strike two weeks ago, making it the largest strike since 2011. A majority of these workers had been without a contract since last August. The workers were upset that Verizon had sent over 5,000 jobs overseas and were hiring more non-union low wage workers.
See "Verizon Offers Union its 'Last, Best and Final Offer'", Ahiza Garcia, CNN Money, April 29, 2016