Steven Greenhouse
"In defending the company’s push for concessions — including a pension freeze, fewer sick days and far higher employee health contributions — Verizon’s chief executive, Lowell McAdam, said in a letter to employees, “The existing contract provisions, negotiated initially when Verizon was under far less competitive pressure, are not in line with the economic realities of business today.”
Officials with the striking unions — the Communications Workers of America and the International Brotherhood of Electrical Workers — insist that the landline division is doing just fine. They note that its profit margins have increased over the last five quarters and that its FiOS TV and Internet service is growing strongly."
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