-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, L+8OgDaoe1eWs5wHgx2/q4KjQEdlj8jFYkXboLVS1c5Zm84v4fLT8rou9Ukxwo3+ 7WrmkeE9ZeggJHmGM+bUJw== /in/edgar/work/20000829/0000950134-00-007474/0000950134-00-007474.txt : 20000922 0000950134-00-007474.hdr.sgml : 20000922 ACCESSION NUMBER: 0000950134-00-007474 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20000820 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20000829 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BELL ATLANTIC CORP CENTRAL INDEX KEY: 0000732712 STANDARD INDUSTRIAL CLASSIFICATION: [4813 ] IRS NUMBER: 232259884 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-08606 FILM NUMBER: 711569 BUSINESS ADDRESS: STREET 1: 1095 AVE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10036 BUSINESS PHONE: 2123952121 MAIL ADDRESS: STREET 1: 1717 ARCH ST 47TH FL STREET 2: 1717 ARCH ST 47TH FL CITY: PHILADELPHIA STATE: PA ZIP: 19103 8-K 1 e8-k.txt FORM 8-K 1 =============================================================================== UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report: August 20, 2000 (Date of earliest event reported) BELL ATLANTIC CORPORATION (D/B/A VERIZON COMMUNICATIONS) (Exact name of registrant as specified in its charter) Delaware 1-8606 23-2259884 (State or other jurisdiction of (Commission File Number) (I.R.S. Employer incorporation) Identification No.) 1095 Avenue of the Americas, New York, New York 10036 (Address of principal executive (Zip Code) offices) Registrant's telephone number, including area code: (212) 395-2121 Not applicable (Former name or former address, if changed since last report) ================================================================================ 2 Item 5. Other Events Attached as Exhibit 99.1 is a press release issued by Verizon Communications on August 21, 2000, announcing a tentative agreement on new three-year contracts with the International Brotherhood of Electrical Workers and the Communications Workers of America in New York and New England. The proposed contracts cover more than 50,000 union-represented employees in New York and the New England states. Attached as Exhibit 99.2 is a press release issued by Verizon Communications on August 23, 2000, announcing a tentative agreement on a new three-year contract with the Communications Workers of America in the Mid-Atlantic region. The proposed contract covers more than 35,000 employees in Delaware, Maryland, New Jersey, Pennsylvania, Virginia, West Virginia and Washington, D.C. Attached as Exhibit 99.3 is a press release issued by Verizon Wireless on August 20, 2000, announcing "neutrality and card check recognition" agreements with the International Brotherhood of Electrical Workers and the Communications Workers of America applicable to Verizon Wireless employees in certain markets. Item 7. Financial Statements and Exhibits (c) Exhibits 99.1 Press Release, dated August 21, 2000, issued by Verizon Communications. 99.2 Press Release, dated August 23, 2000, issued by Verizon Communications. 99.3 Press Release, dated August 20, 2000, issued by Verizon Wireless. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Bell Atlantic Corporation -------------------------------------- (Registrant) Date: August 28, 2000 /s/ Marianne Drost --------------- -------------------------------------- Marianne Drost Senior Vice President, Deputy General Counsel and Corporate Secretary 3 EXHIBIT INDEX
EXHIBIT NUMBER DESCRIPTION - -------- ----------- 99.1 Press release, dated August 21, 2000, issued by Verizon Communications. 99.2 Press release, dated August 23, 2000, issued by Verizon Communications. 99.3 Press release, dated August 20, 2000, issued by Verizon Wireless.
EX-99.1 2 ex99-1.txt PRESS RELEASE DATED AUGUST 21, 2000 1 EXHIBIT 99.1 NEWS RELEASE [VERIZON LOGO] FOR IMMEDIATE RELEASE Contact: August 21, 2000 Eric Rabe 212 395-0500 eric.rabe@verizon.com Steve Marcus 202-646-4413 steven.b.marcus@verizon.com VERIZON ANNOUNCES DETAILS OF AGREEMENT WITH IBEW AND CWA IN NEW YORK AND NEW ENGLAND; NEGOTIATIONS CONTINUE WITH CWA IN MID-ATLANTIC STATES PACT ENABLES COMPANY TO RAISE SERVICE STANDARDS; EMPLOYEE CONCERNS ADDRESSED WASHINGTON - Verizon Communications, the International Brotherhood of Electrical Workers (IBEW) and the Communications Workers of America (CWA) in New York and New England announced late yesterday a tentative agreement on new contracts that will enable the company to raise its standards of service while addressing issues of concern to union-represented employees. Meanwhile, negotiations continued with the CWA in the Mid-Atlantic States, and the company said it hopes to reach an agreement shortly. 2 Verizon News Release, page 2 "The proposed agreement gives Verizon the flexibility we need to thrive in a highly-competitive, national marketplace," said Lawrence T. Babbio Jr., vice chairman and president-Verizon Communications. "We will be able to raise our standards and productivity so that we can meet the increasingly sophisticated demands of our customers and provide them with the most technologically-advanced products and services." The proposed three-year contracts will enable employees to participate in high-tech growth areas of the company, such as high-speed data. In addition, it provides a competitive package of pay and benefits, including wage increases totaling 12 percent over the life of the contracts. "We believe this agreement is affordable and prudent and will not affect Verizon's financial targets," Babbio said. "We apologize to any customers who have been inconvenienced by the strike, and we look forward to having all our employees back on the job." The proposed contracts cover more than 50,000 union-represented employees in New York and New England. These employees will return to work today, ending a 15-day strike. More than 35,000 employees represented by the CWA in the Mid-Atlantic States remained on strike. Provisions of the contracts include: o A series of measures designed to reduce workplace stress while improving customer service and operating efficiency. For example, the company will have more flexibility to balance the high volume of calls across its call centers. Procedures for customer service representatives will be modified to improve the ability of representatives to meet customer requirements. These actions will reduce pressure and stress on individual workers. In addition, the company and the union will establish a Stress Relief Committee to be headed by the company's group president for retail markets and CWA International staff representatives. 3 Verizon News Release, page 3 o The committee will continue to address stress issues and work to develop further improvements in workplace conditions. o To improve service and efficiency, the company will consolidate customer premises work on Verizon On-Line DSL, the company's high-speed data service. As a result, union-represented employees in the Telecom Group will be given greater access to this work. The company will be able to select employees who are specifically trained and qualified to do DSL installations and repairs. This will improve customer service quality and operating efficiency since the company will now be able to dispatch a single, qualified technician to complete a DSL service order. Previously, two different technicians often had to be dispatched to a customer's home or business on two separate occasions. o The company increased the number of jobs that can be transferred from one region to another. At the same time, the agreement will continue the employee job-security provisions regarding layoffs, downgrades and relocations that previously existed. o A team-based incentive plan that rewards employees for meeting higher service, performance and other standards will be implemented to cover teams across the New York-New England region. Under this program, union-represented employees in various business units can earn bonuses of up to 10 percent of their base pay if their team meets the objectives established by the business unit. o Wages will increase by 4 percent in August 2000; 3 percent in August 2001, and 5 percent in August 2002 for an increase of 12.5 percent on a compounded basis over the life of the contracts. Pension benefits for active employees will increase by 5 percent on July 1, 2001; 5 percent on July 1, 2002, and 4 percent on July 1, 2003 for a compounded increase of 14.7 percent. o Customer service representatives will receive an additional wage increase of 4 percent, effective immediately, to recognize their importance to the success of customer sales and service. This will help the company retain skilled, motivated customer service representatives, which in turn should reduce turnover in the company's call centers, stress and the need for overtime. o In a further commitment to help employees balance their job requirements and personal lives, the company will increase funding for various work and family programs by 10 percent, for a total of $18.6 million over the life of the agreement. 4 Verizon News Release, page 4 o To improve the company's ability to recruit, the waiting period for new employees to qualify for company-paid health benefits will be reduced to three months from six months. o To increase employee ownership in - and commitment to - the business, each union-represented employee will receive options for 100 shares of Verizon common stock prior to the end of the year. Separately, the Board of Directors has approved a company-wide stock option grant for all management employees. The date and details of that grant will be announced shortly. Also, the reimbursement for adoption expenses will be doubled to $10,000; the age limit for dependent medical coverage will be extended to 25 years from 23 years for full-time students; survivor benefits will be improved, and improvements will be made in dental and medical benefit plans. Verizon Communications (NYSE:VZ), formed by the merger of Bell Atlantic and GTE, is one of the world's leading providers of communications services. Verizon companies are the largest providers of wireline and wireless communications in the United States, with more than 100 million access line equivalents and 25.6 million wireless customers. A Fortune 10 company with more than 260,000 employees and approximately $60 billion in 1999 revenues, Verizon's global presence extends to 40 countries in the Americas, Europe, Asia and the Pacific. For more information on Verizon, visit www.verizon.com. ### ON THE INTERNET: Verizon news releases, executive speeches and biographies, news media contacts and other information are available at Verizon's News Center on the World Wide Web (www.verizon.com/news). To receive news releases by email, visit the News Center and register for personalized automatic delivery of Verizon news releases. EX-99.2 3 ex99-2.txt PRESS RELEASE DATED AUGUST 23, 2000 1 EXHIBIT 99.2 NEWS RELEASE [VERIZON LOGO] FOR IMMEDIATE RELEASE Contact: August 23, 2000 At 212-395-0500: Eric Rabe, eric.rabe@verizon.com Steve Marcus, steven.b.marcus@verizon.com At 202-646-4413: Larry Plumb, lawrence.d.plumb@verizon.com Harry Mitchell, harry.j.mitchell@verizon.com VERIZON AND CWA IN MID-ATLANTIC REGION REACH AGREEMENT ON NEW CONTRACT STRIKE ENDS; COMPANY WILL FOCUS RESOURCES ON SERVING CUSTOMERS (Editors Note: Verizon will host a dial-in news conference at 9 p.m. Eastern Time featuring Vice Chairman and President Lawrence T. Babbio, Jr. The dial-in number is 888-868-9083.) WASHINGTON -- Verizon Communications announced today a tentative agreement on new three-year contract with the Communications Workers of America (CWA) in the Mid-Atlantic region, ending an 18-day strike in the region. The settlement is substantively the same as the one agreed to Aug. 20 by the International Brotherhood of Electrical Workers (IBEW) and the CWA in New York and New England. "With this last agreement, all our employees will be back at work, and we can now focus all our resources on serving our customers," said Lawrence T. Babbio Jr., vice chairman and president-Verizon Communications. "This agreement, like those we have previously reached with the IBEW and the CWA in New York and New England, gives us the flexibility we need to 2 Verizon and CWA in Mid-Atlantic Region Reach Agreement..., page 2 compete in the Internet era, satisfying the company's need to manage the work load while meeting customer demands for outstanding service and access to the latest technology. We will now be able to raise the bar on our standards for service and productivity so that we can exceed - rather than just meet - our customers' expectations. The cost of the total package for all union employees is unchanged from the cost of the package presented to the unions last week. "This agreement is affordable and prudent and will not affect Verizon's financial targets," said Babbio. The agreement with the CWA in the Mid-Atlantic region covers more than 35,000 employees in Delaware, Maryland, Pennsylvania, New Jersey, Virginia, West Virginia and Washington, D.C. Those employees will begin returning to work on Aug. 24. More than 50,000 other union- represented employees in New York and New England returned to work Aug. 21. The agreement resolves several local issues, including overtime and work rules, which had been raised by the CWA in the Mid-Atlantic region. On the issue of overtime, the company agreed to a cap of 7.5 hours a week overtime for employees working in Verizon customer service centers, effective immediately. The company also agreed to move to a cap of 10 hours overtime per week upon ratification and eight hours overtime per week beginning Jan. 1, 2001, for other employees. The basic terms of the agreement - a 12 percent wage increase over the three-year life of the contract and improvements in pension and other benefits - are identical to the agreements signed Aug. 20 by the IBEW and the CWA in New York and New England. There are also similar provisions giving the company more flexibility to transfer work from one region to another and giving union-represented employees greater opportunity to participate in high-tech, growth areas of the company, such as high-speed data. 3 Verizon and CWA in Mid-Atlantic Region Reach Agreement..., page 3 In addition, the agreement will continue the employee job-security provisions regarding layoffs, downgrades and relocations that previously existed. Other provisions of the agreement include: o Improvement of the existing team-based incentive plan that rewards employees for meeting higher service, performance and other standards. Under the plan, union-represented employees in various business units can earn bonuses of up to 10 percent of their base pay if their team meets the objectives established by the business unit. o Wages will increase by 4 percent in August 2000; 3 percent in August 2001, and 5 percent in August 2002 for an increase of 12.5 percent on a compounded basis over the life of the contracts. Pension benefits for active employees will increase by 5 percent on July 1, 2001; 5 percent on July 1, 2002, and 4 percent on July 1, 2003, for a compounded increase of 14.7 percent. o Customer service representatives will receive an additional wage increase of 4 percent, effective immediately, to recognize their importance to the success of customer sales and service. This will help the company retain skilled, motivated customer service representatives, which in turn should reduce turnover in the company's call centers, stress and the need for overtime. o In a further commitment to help employees balance their job requirements and personal lives, the company will increase funding for various work and family programs by 10 percent, for a total of $4.8 million over the life of the agreement. o To improve the company's ability to recruit, the waiting period for new employees to qualify for company-paid health benefits will be reduced to three months from six months. o To increase employee ownership in - and commitment to - the business, each union-represented employee will receive options for 100 shares of Verizon common stock prior to the end of the year. Separately, the Board of Directors has approved a company-wide stock option grant for all management employees. The date and details of that grant will be announced shortly. 4 Verizon and CWA in Mid-Atlantic Region Reach Agreement..., page 4 Also, the reimbursement for adoption expenses will be doubled to $10,000; the age limit for dependent medical coverage will be extended to 25 years from 23 years for full-time students; survivor benefits will be improved, and improvements will be made in dental and medical benefit plans. Verizon Communications (NYSE:VZ), formed by the merger of Bell Atlantic and GTE, is one of the world's leading providers of communications services. Verizon companies are the largest providers of wireline and wireless communications in the United States, with more than 100 million access line equivalents and 25.6 million wireless customers. A Fortune 10 company with more than 260,000 employees and approximately $60 billion in 1999 revenues, Verizon's global presence extends to 40 countries in the Americas, Europe, Asia and the Pacific. For more information on Verizon, visit www.verizon.com. #### ON THE INTERNET: Verizon news releases, executive speeches and biographies, news media contacts and other information are available at Verizon's News Center on the World Wide Web (www.verizon.com/news). To receive news releases by email, visit the News Center and register for personalized automatic delivery of Verizon news releases. EX-99.3 4 ex99-3.txt PRESS RELEASE DATED AUGUST 20, 2000 1 EXHIBIT 99.3 Verizon Wireless News Release Contacts: Tom Pica 908 306-4385 (Office) 914 772-0757 (Wireless) Jim Gerace 908 306-7508 August 20, 2000 VERIZON WIRELESS ANNOUNCES AGREEMENT WITH UNIONS BEDMINSTER, NJ - Verizon Wireless has agreed to grant the Communications Workers of America and the International Brotherhood of Electrical Workers "neutrality and card check recognition" in the event the unions try to organize Verizon Wireless employees. The agreements take effect next year and apply in 13 Eastern states, the District of Columbia, and in the company's former Ameritech Cellular markets in the Midwest. "Our agreements are consistent with the view that this decision is not owned by the company or the union, but belongs to our employees alone," said Marc Reed, Verizon Wireless Vice President-Human Resources. "It should be clear that this agreement takes effect starting in six months and even then does not automatically lead to unionization. Our agreement simply provides an expedited process for employees to make an informed choice in the event of an organizing effort by these unions." The agreements reached with the unions call for neutrality and card check. Neutrality permits the company and the unions to present facts to employees considering union organization and to discuss with employees the pros and cons of union representation. The card check agreements require the unions to gather signed cards from 55 percent of the employees in a specified work group in order to represent them. The card process replaces a National Labor Relations Board secret ballot where only a simple majority is required for union recognition. The agreements do not apply to outside sales employees, or in properties contributed to the joint venture by Vodafone Group and PrimeCo. The agreements take effect in 180 days, but do not apply to store employees for one year. The company also reached agreement on a three-year contract with the CWA local representing 46 technicians in the New York Metro Region. The contract provides for annual wage increases of four, three and three percent with a one-time cash payment of two percent in the contract's third year. It also provides for participation in the Verizon Wireless benefits plans. 2 Reed said the agreements preserve the flexibility that the company requires to maintain its aggressively customer-focused operations and to compete successfully in the fast-paced, wireless marketplace. ### About Verizon Wireless Verizon Wireless is the largest wireless communications provider in the U.S., serving more than 25.6 million voice and data customers and nearly 4 million paging customers. The new coast-to-coast company was formed through the combination of the U.S. wireless businesses of Bell Atlantic Corp. and GTE Corp - -- now Verizon Communications (NYSE: VZ) -- and Vodafone (NYSE: VOD; LSE). The company, which includes the assets of Bell Atlantic Mobile, AirTouch Cellular, GTE Wireless, PrimeCo Personal Communications and AirTouch Paging, is licensed to serve nearly 90 percent of the U.S. population and 96 of the top 100 markets. Headquartered in New York City and Bedminster, NJ, the company has 30,000 employees. For more information about Verizon Wireless visit its Media Center on the Web at: http://www.verizonwireless.com/verizon/mediacenter/index.shtml. -----END PRIVACY-ENHANCED MESSAGE-----