Dow Jones, union agree to keep contract in place for 2017
Mark Musgrave, the chief people officer at Dow Jones & Co., the parent of The Wall Street Journal, sent out the following announcement on Monday:
Dow Jones and IAPE have decided to keep the parties’ labor contract in place for the coming year, unchanged. As you may recall, we had agreed to a termination option for each side as part of the contract ratified in the fall of 2016. Because neither party is invoking this option at this time, the contract will remain in place through at least June 30, 2018.
We look forward to our continued focus on transforming our business for the future.
The agreement provided a first-year minimum salary increase of 2 percent for all union-represented employees retroactive to July 1, 2016, and similar minimum 2 percent increases effective July 1, 2017, and July 1, 2018, with higher increases possible based on a cost-of-living trigger or if the Company’s pay increase “guidance” for non-union employees is higher than 2 percent in either year.
Both the union and the company have the option to terminate the agreement at the end of the first or second year by giving notice on or before March 15 of 2017 or 2018. If neither party exercises the right to terminate, the agreement will expire July 30, 2019.