Telecom network operator Verizon reached an agreement in principle with the CWA and IBEW on new contracts with the company’s 36,500 employees – mainly wireline and 165 wireless employees in the Northeast.

Marc Reed, chief administrative officer of Verizon, said: “The agreement is consistent with our objective of creating high quality American jobs and achieving meaningful changes and enhancements to the contracts that will better enable our wireline business unit to compete and succeed in the digital world.”

“We look forward to having all of our employees soon back at work in their regular positions and doing what they do best – serving our customers,” Marc Reed said.

The New York City head-quartered Verizon Communications has generated nearly $132 billion in 2015 revenues. Verizon has 112.6 million retail connections nationwide.