Things are not rosy on the labour front of one of America's biggest companies.
Nearly 40,000 Verizon (NASDAQ: VZ) workers are preparing to walk off the job at 6 a.m. ET on Wednesday if they have not reached a new labour agreement with the telecom giant.
The workers, who primarily service the company's traditional phone business, have gone without a contract since August, according to the Communication Workers of America. The union says it is fighting to prevent Verizon from moving jobs offshore or cutting benefits for injured workers.
Verizon maintains that it has worked with union leaders in good faith.
Verizon said that if the strike goes forward, the company is prepared to continue to serve its customers. It said that thousands of non-union workers have been trained to cover new assignments in the event of a strike.
Verizon opened Tuesday trading up 19 cents to $51.80 U.S., within a 52-week trading range of $38.06 to $54.49 U.S.
