With contract negotiations set to begin soon, Verizon CEO Ivan Se...

Club, Seidenberg said he wasn’t pushing for lower salaries but rather for more flexibility and creativity. “We need to come up with a new model based on 21st Century realities” in 4 core areas, he said: (1) As fiber and digital technologies change the way companies provide service, “we need to redesign our operations… and we need a trained and flexible work force to go with it.” (2) “As competition cuts into our core voice business, we need the flexibility to adjust the size, cost and, in some cases, the location of our force as needed.” (3) In the area of health care, Verizon needs to find “creative ways to address costs that are rising at double-digit rates.” (4) “In terms of our pension system, we need a more flexible design to meet the needs of a younger, more mobile work force.” He emphasized “we're not looking to reduce wages” but the company wants “to move from an old paradigm… in a way that protects current workers but also preserves jobs for the future.” Union leadership “is standing at a crossroads, too,” he said: “They can hold on to the old industry and accelerate the flow of jobs and investment away from traditional telecom companies to the newer competitors. Or they can join the fight for our mutual survival and help us find a new model.” Seidenberg said the company didn’t “have all the answers” but “we do believe there’s a solution that will work for everybody involved and we look forward to working with the CWA and IBEW to find it.” Bargaining is expected to begin in mid-June to replace a contract that expires Aug. 2.