The operations of Verizon could be interrupted this week if the threat to stop work on Wednesday by 40,000 of its workers will push through. These workers are fighting for a new contract with the telecommunication giant that would limit outsourcing, increase pay and improve work conditions.

The deadline before the strike commences is at 6 a.m. Wednesday according to the statement made by the Communications Workers of America union on Monday. If pushed through, this will be the biggest workers' strike since 2011.

"We're standing up for working families and standing up to Verizon's corporate greed," said Dennis Trainor, CWA District 1 Vice President in a statement.

"If a hugely profitable corporation like Verizon can destroy the good family-supporting jobs of highly skilled workers, then no worker in America will be safe from this corporate race to the bottom," he added.

Another workers' group, the International Brotherhood of Electrical Workers is supporting the CWA in this initiative. These groups are composed mainly of technicians and customer service reps on the East Coast whose contracts are to expire on August.

The labor negotiations have stalled according to union officials since Verizon is seeking for concessions. Bob Master, an official of the CWA said that they are concerned that the proposals have no layoff protections for new workers. There is also the probability that employees will be forced to work away from home for long periods stretching to two months.

On the part of the New York City-based company, Marc Reed, the chief administrative officer of Verizon, assured the union that the firm is committed to pursue the bargaining process.

"But now union leaders would rather make strike threats than constructively engage at the bargaining table," Reed lamented.

Aside from being a phone company, the telecom giant also provides broadband internet service to millions of East Coast residents. It is also a cell phone service provider that uses Verizon Wireless.