Verizon Strikers May Return to Work on Tuesday: Report

Striking workers at Verizon Communications Inc. (NYSE: VZ) are likely to return to the job on Tuesday, according to a report in the Philadelphia Inquirer newspaper.

The company and union bosses will reportedly make a statement later on Saturday, the paper said, citing a “well-placed union source.”

According to the report, strikers will resume working under the terms of the prior contract, which expired August 6.

About 45,000 Verizon landline employees walked off the job on August 7, to protest demands by the company to make about $1-billion in concessions, particularly with respect to health care benefits.