Verizon Communications and unions which represent almost 40,000 workers have tentatively agreed to a four-year deal that will end the ongoing strike that started on April 13.
The announcement of the deal by United States Secretary of Labor Thomas Perez ends the six-week strike, which involved several states in the East Coast, including Massachusetts and New York.
The strike was the largest one in recent labor history in the country, with an estimated 36,000 to 39,000 workers involved. It drew the support of Democractic Presidential candidates Hillary Clinton and Bernie Sanders, as workers picketed in front of the stores of Verizon and some conferences which had Verizon executives as attendees.
The workers that participated in the strike included customer service representatives and network technicians from Verizon's Fios Internet, television and telephone divisions.
While the terms of the deal have not been revealed, the agreement is now being drafted and will then be sent to the unions for ratification. The workers on strike are expected to return to their jobs next week, according to Perez.
"We have a great contract that is going to protect our members and bring in additional jobs," said Communications Workers of America (CWA) VP Edward Mooney. The CWA is one of the two unions involved in the strike, with the other being the International Brotherhood of Electrical Workers.
The workers will be receiving increases in their wages, and issues regarding worker relocations and pensions were settled in favor of the unions.
The outsourcing of technical support and sales calls was another concern that was settled in favor of the unions. Verizon agreed to keep 30 call centers while opening 1,300 new positions.
After the announcement of the end of the strike, share prices of Verizon increased by as high as 1.2 percent, trading at $50.61 each in the afternoon.
Union workers, however, are still wary of the deal. While they are relieved that the strike is over, it will not completely end until the terms of the agreement with Verizon have been disclosed.
