Dow Jones & Co., the parent of The Wall Street Journal, Barron’s and MarketWatch.com, has offered 3 percent pay raises and a 0.25 percent lump sum payment in January to the union that represents journalists.
The lump sum payment would be based on a person’s base salary. For a personal making $100,000, the payment would be $250.
The union earlier asked Dow Jones & Co. for a 15 percent pay hike in the first year of a new deal to make up for inflation. Bargaining will resume on Tuesday.
The IAPE 1096 also called for a cap of three mandatory in-office working days for the life of the contract, and proposed new contract language defining book and other derivative rights for employee-created work and protections against advancements in artificial intelligence.
A one-year contract expired on June 30. That agreement, covering the period from July 1, 2022 through June 30, 2023, provided a salary increase of 4 percent for all IAPE-represented employees retroactive to July 1, with a minimum raise of $40 per week, as well as a lump-sum payment equal to 1% of pay as of June 30, 2022, with a minimum of $1,000.
