Kevin McCoy

USA TODAY

Nearly 40,000 striking Verizon (VZ) workers are scheduled to return to work Wednesday after reaching a tentative agreement on a new contract that provides gains for both the communications giant and its employees.

The timetable for restoring normal working scheduled was announced Monday, three days after both sides reached an agreement in principle to end a strike that began in April and became one of the broadest U.S. job actions in recent years.

The Communications Workers of America said the deal terms, subject to approval by Verizon's union members, include 1,300 new East Coast call center jobs and 10.9% wage hikes over four years, a boost from the 6.5% hike the company offered before the strike.

New York-based Verizon said the company will achieve cost savings and avoidance through healthcare plan design changes, adoption of Medicare Advantage plans for the company's retirees and increased flexibility in call sharing.

Verizon, unions reach four-year labor contract

"The addition of good new jobs at Verizon is a huge win not just for striking workers, but for our communities and the country as a whole," CWA President Chris Shelton said in a statement announcing details of the tentative agreement.

Verizon Chief Administrative Officer Marc Reed said terms of the agreement "will allow our business to be more flexible and competitive and will help achieve greater efficiencies as we operate in the ever changing and dynamic digital marketplace."

The International Brotherhood of Electrical Workers, the other major union representing Verizon workers, could not immediately be reached for comment Monday. However, IBEW President Lonnie Stephenson in a Friday statement said his union's workers "look forward to returning to work serving their customers, working under a strong pro-worker and pro-jobs contract."

Verizon deployed thousands of non-union employees and contractors to fill in for striking installers, customer service employees repairmen and other landline and cable workers along the East Coast during the nearly seven-week job action. However, the strike slowed some services for Verizon customers.

In addition to the wage hike and new jobs, the CWA said the tentative agreement includes $1,250 signing bonuses in the Mid-Atlantic region, and a $1,000 signing bonus plus a $250 healthcare reimbursement account in the Northeast region.

Nearly 70 Verizon Wireless retail store workers would get their first job contract ever if the pact is ratified.

The CWA also said the deal includes a 25% increase in the number of union crews that maintain Verizon utility poles in New York state. Verizon withdrew proposed pension reductions, resulting in three increases of 1% each in defined-benefit pensions during the tentative contract, the union said.

As part of plans to accelerate growth in wireline broadband, Verizon said it would hire additional associates during the life of the tentative agreement.

Final approval of the contract would also give the company the right to have employees in other Verizon-serviced states answer calls from customers. In the past, those calls were initially handled only by an employee in the state where the call originated.

Contributing: Associated Press

Follow USA TODAY reporter Kevin McCoy on Twitter: @kmccoynyc