That agreement involved approximately 40,000 employees across both union groups, but was mostly focused on wireline employees. Amongst details of the contract, workers received a 10.5% wage increase over the four-year term of the deal, with Verizon Communications committed to hiring approximately 1,300 new workers. Verizon said it gained the ability to offer special buyout incentives to employees and health care cost savings for current and retired workers under its pension plan. While initially downplaying any impact from the strike, Verizon management acknowledged it would see a second-quarter earning impact of between 5 cents and 7 cents, with that financial impact set to also hit full-year results. Verizon Communications CFO Fran Shammo explained the costs were associated with overtime paid to management employees, hiring contract workers to cover for striking workers and a decrease in new business installations.