Verizon Workers Go On Strike

[Kujako]

How is that $130,000 a year calculated?

Anyways, $32 an hour is good pay, especially if they're getting other benefits on top. I don't know the education required, but it can't be that high for line installments and such.

Everyone wants more money, but if those two numbers are true it doesn't exactly sound like they're getting shafted. I'm thinking the numbers we're given here is too good to be true though.

The important bit...

Over 99 percent of these employees support the wireline business which in 2015, contributed about 29 percent of Verizon's revenue but less than 7 percent of the Company's operating income

in relation to the profits they generate, they are underpaid.

[oxymoronic]

Funny how the crazy cost of healthcare is the workers problem and not an issue with the fucked up system in the US that allows the healthcare industry to change essentially whatever it wants.

umm no, where did you get that?

[Thepersona]

Funny how the crazy cost of healthcare is the workers problem and not an issue with the fucked up system in the US that allows the healthcare industry to change essentially whatever it wants.

but remember, wanting a socialized healthcare is communismz!
ahh those cultural marxist destroying all of the good in US (like racism, homophobia, intolerance)

[oxymoronic]

The important bit...
in relation to the profits they generate, they are underpaid.

because technology does the job for them somehow they are underpaid? wtf kind of reasoning is that?

[Deleted]

Are you lonley Orlong?

[Belize]

How dare they. They should be grateful to even have jobs and be paid.

[Orlong]

I don't have FiOS. I won't have FiOS for at least five years. Your opinion is noted and false.

Not talking about FIOS internet. They have been replacing copper lines with Fiber Optic cables as they dont rust, get chewed on by animals, corrode etc... This is for land line phone. The union wants them to continue using copper lines even though its obsolete just so they can have more line techs since it needs more maintenance. More union members, more money for the union

[oxymoronic]

Not talking about FIOS internet. They have been replacing copper lines with Fiber Optic cables as they dont rust, get chewed on by animals, corrode etc... This is for land line phone. The union wants them to continue using copper lines even though its obsolete just so they can have more line techs since it needs more maintenance. More union members, more money for the union

yep this is as bad as that light bulb thing.

[Orlong]

A 6.5% wage increase over the course of the contract may seem well and good if it's a 3 year contract...but if it's a 5 year contract that's only an additional $65.20 per paycheck or $1.56/hour based on a $50,000/year salary. *

Which is ridiculous. Most people are lucky if they get a 50 cents an hour raise each year, and many get no raise, and they are bitching that $1.56 per year isnt enough?????

- - - Updated - - -

yep this is as bad as that light bulb thing.

Except in the case of the lightbulb thing, the incandescent bulbs perform better in every way except efficiency. In this case FIOS performs better in every way over copper. Its apples and pranges. One is replacing a superior product with a shitty one, and the other we are replacing a shitty product with a superior one

[The Stormbringer]

Oh no, I feel so bad for Verizon, the largest U.S. wireless communications service provider as of September 2014. So, so bad. Truly, this will break them with their billions of dollars worth of profit. Those measly pensions and slight pay raises will surely be the end of this massive telecommunications giant.

Oh wait, no I don't.

I think the only thing I agree with is the retiring of old services, and that's only if they offer to replace them with newer versions for free or at a discount to their clearly loyal (and by that I mean people who can't get service from anyone else due to our current state of pseudo-monopolies) customers.

[Austilias]

in relation to the profits they generate, they are underpaid.

What proportion of a company's profits do the employees 'deserve'? Give an exact figure, because the alternative is an eternal chorus of 'more'.

[Deleted]

Which is ridiculous. Most people are lucky if they get a 50 cents an hour raise each year, and many get no raise, and they are bitching that $1.56 per year isnt enough?????

Workers using collective bargaining to get fairer compensation? HOW DARE THEY, SEND THEM TO THE MINES.

[Orlong]

Funny how the crazy cost of healthcare is the workers problem and not an issue with the fucked up system in the US that allows the healthcare industry to change essentially whatever it wants.

Its the workers problem because the unions stuff democrats pockets full of money every election cycle and the democrats are the ones who made Obamacare, and Obamacare is what cause the healthcare cost to skyrocket

[Kathandira]

Which is ridiculous. Most people are lucky if they get a 50 cents an hour raise each year, and many get no raise, and they are bitching that $1.56 per year isnt enough?????

That's the thing. People don't bitch enough. Which is why we continually get walked all over by the companies we work for. I applaud any work force who has the balls to strike for better wages, and better benefits. More people should do the same.

[Orlong]

The important bit...
in relation to the profits they generate, they are underpaid.

Its not a profit sharing contract

[fooliuscaesar13]

I have a few friends who work for Verizon and basically what they said was this:

Healthcare costs will double for them (some will pay over 10k per year in monthly costs versus 5k-6k). Pension freezes aren't a major issue, but it's on the table because Unions.
They don't make $130k per year total compensation, so that average (like most) are probably skewed by a few really high salaried employees.

The real gripe, though, is that Verizon the company wants to slash costs for employees, but their top 5 execs are taking home 250 million each, with bonuses almost hitting 40 million each.

Considering that Verizon had 17.88 billion left over after COGS / D&A / taxes (http://www.marketwatch.com/investing.../vz/financials), I'm pretty sure they can afford to take the healthcare hit. Not sure what the payouts to stockholders would have been regarding that 17.88 billion, though.
But 5 people making 250 mill plus in a year? If true (I don't have a source other than what the union tells the employees) I think the workers have a legit gripe in that arena.

Edit: too many digits in my exec compensation numbers (should be 25 mill / 4 mill bonuses), but I still think the workers have a legit gripe.

[Tyrianth]

Which is ridiculous. Most people are lucky if they get a 50 cents an hour raise each year, and many get no raise, and they are bitching that $1.56 per year isnt enough?????

Maybe other workers should stop being pussies and putting up with companies paying them less each year due to inflation.

[Captain N]

Which is ridiculous. Most people are lucky if they get a 50 cents an hour raise each year, and many get no raise, and they are bitching that $1.56 per year isnt enough?????

Would you be so kind to inform the class what your Union Government job over there in Pennsylvania has in raises each year?

Or perhaps you would like to me link the stats from Pennlive showing that you guys got a 2.25% increase just this year...Based on your own self-admitted $45,000/year you got an extra 48 cents per hour or $19.47/week

PennLive learned from union sources Tuesday that the deal carries a step increase of 2.25 percent that would take effect Jan. 1, 2016. That would effectively limit payroll increases to about 1.125 percent through the fiscal year.

According to the state's Office of Administration, the average AFSCME worker currently earns a salary of $41,896. The mid-year increase proposed would take that person's salary to $42,839 as of January. http://www.pennlive.com/midstate/ind...argest_st.html

And if you had actually read what I posted that's $1.56/hour raise after 5 years....or 31 cents per hour per year.

So basically you're bitching about someone getting 31 cents per hour/per year while you have gotten 48 cents/hour just this year.

It must really burn your ass that you get paid so little.

[Thepersona]

What proportion of a company's profits do the employees 'deserve'? Give an exact figure, because the alternative is an eternal chorus of 'more'.

want the marxist response? all of it. all of the profit, because they made it (called plus-value)
want the social democrat response? a portion of it (like 10-20%) for the same reasons as above

[Kathandira]

I have a few friends who work for Verizon and basically what they said was this:

Healthcare costs will double for them (some will pay over 10k per year in monthly costs versus 5k-6k). Pension freezes aren't a major issue, but it's on the table because Unions.
They don't make $130k per year total compensation, so that average (like most) are probably skewed by a few really high salaried employees.

The real gripe, though, is that Verizon the company wants to slash costs for employees, but their top 5 execs are taking home 250 million each, with bonuses almost hitting 40 million each.

Considering that Verizon had 17.88 billion left over after COGS / D&A / taxes (http://www.marketwatch.com/investing.../vz/financials), I'm pretty sure they can afford to take the healthcare hit. Not sure what the payouts to stockholders would have been regarding that 17.88 billion, though.
But 5 people making 250 mill plus in a year? If true (I don't have a source other than what the union tells the employees) I think the workers have a legit gripe in that arena.

And don't forget that they also want to keep outsourcing jobs as well to get cheaper labor.