Verizon strike tied to cuts, losses to VoIP

More than 45,000 East Coast-basedVerizon workers went on strike Sunday,  protesting the company’s request for concessions from two of its major unions.

went on strike in the mid-Atlantic and northeast regions on Sunday,

The walkout of employees from Verizon landline business, is the first in 11 years at the corporation. According to reports in the Wall Street Journal and numerous other news outlets, the action came after Verizon requested union concessions because of decreasing revenue as cell phone use and VoIP services rise.

According to the Wall Street Journal, Verizon’s landline revenues fell in the first six months of 2011 to $20.4 billion, about $3 billion of which was profit for Verizon shareholders.