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New York Times - Verizon Vote On Pay Levels To Be Decided In a Recount –May 4, 2007; New York Times – Say On Pay Gets Support at Verizon – May 19, 2007 *New York Times – Verizon to Put Executive Pay to Shareholder Vote – November 2, 2007. Reuters - Verizon Retirees to Shareowners: Vote Nay on Pay- April 9, 2009
The company was referred to as "New York Telephone, a NYNEX Company" before being called simply "NYNEX" starting on January 1, 1994. On August 15, 1997, NYNEX was acquired by Bell Atlantic, who kept the Bell Atlantic name. On June 30, 2000, Bell Atlantic acquired GTE to form the current Verizon Communications, with the corporate headquarters ...
Union leaders refused to accept a new contract citing multiple issues, including pensions, healthcare, work assignments, job security, and wages. According to Verizon, employees received $130,000 a year in wages and benefits. Union leaders claimed that the average total was $74,000 a year. Verizon offered workers a 7.5 percent salary increase.
But Verizon, the telecommunications giant, seems to have found a way to hold onto its employees. The average tenure of around 110,000 workers is 12.9 years, well over three times the U.S. average .
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Verizon's "well-planned and anticipated" move to lower its headcount will offer employees up to 60 weeks of salary, bonuses and benefits, depending on the length of their careers at Verizon, the ...
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