Verizon offers updated 'final' contract proposal to worker unions

"We are putting our last, best final offer on the table," Verizon's chief administrative officer Marc Reed, said in a company statement. The strike was called by the Communications Workers of America (CWA) and the International Brotherhood of Electrical Workers. The wireline unit, which represents Verizon's legacy business, generated about 29 percent of company revenue in 2015, down about 60 percent since 2000.