Verizon and the two unions that represent more than 45,000 striking Verizon workers announced early Saturday afternoon that workers will return to the job on early this week.
Communications Workers of America (CWA) and the International Brotherhood of Electrical Workers (IBEW) have agreed to have striking workers return to work despite not having a new contract.
A press release from Verizon stated that the workers will be returning to work "under the terms of the contracts that expired on Saturday, Aug. 6."
The unions stated that the issues are going to be "focused" when discussions start with Verizon.
"We have reached agreement with Verizon on how bargaining will proceed and how it will be restructured. The major issues remain to be discussed, but overall, issues now are focused and narrowed," both CWA and IBEW stated in a joint press release on Saturday.
"We agreed to end the strike because we believe that is in the best interest of our customers and our employees. We remain committed to our objectives, and we look forward to negotiating the important issues that are integral to the future health of Verizon's wireline business," said Marc Reed, Verizon's executive vice president of human resources, in a press release.
Verizon stated that the workers will return on the job Monday night, while the unions stated it would be Tuesday.
Labor and management have each blamed the other for what has brought the company to the brink of its first strike since 2000. Verizon is claiming that the union is not agreeing to a $100 per month employee contribution to health care. Employees were not required to pay health care contributions before. The unions is saying, however, that Verizon wants to cut employee pensions and health care benefits, along with capping sick time at five days per person and instituting merit pay.
For more information about the dispute, .
After negotiations failed, more than 45,000-unionized Verizon workers from Massachusetts to Virginia went on strike at .