WASHINGTON, April 29, 2016 /PRNewswire-USNewswire/ -- As the Communications Workers of America (CWA) and IBEW enter the third week of the strike, Verizon intends to cut off benefits for 108,000 striking workers and family members effective May 1st. This despite the fact that Verizon made $18 billion in profits over the last 18 months and paid its top executives $249 million over the last 5 years.
In response, workers are launching VerizonGreed.com to highlight "The Greedy Bunch" -- the top architects and beneficiaries of Verizon's policy of exorbitant executive compensation at the expense of working families. These executives seek to distract the public from their own sky high earnings (as high as 200 times that of an average Verizon employee) by laying blame at striking workers. CWA and IBEW will activate their membership of 39,000 to shine a light on Verizon's corporate greed and spread the word through social media that it's time for Verizon to support their workers.
"Verizon has booked billions in profits on the backs of hard-working Americans and it is unconscionable that they would turn their backs on the very workforce that created those profits by cutting off health care benefits for workers and their families. Workers are taking a stand against Verizon's corporate greed and fighting to protect middle class jobs," said CWA District Vice-President Ed Mooney. "Verizon made more than $4 billion in profits in the first quarter of 2016 alone. It's outrageous that a company this profitable is trying to destroy good, family-supporting jobs."
CONTACT: Moira Muntz, 703-416-9188, [email protected]
SOURCE Communications Workers of America