OLD Media Moves

Dow Jones management budges slightly on wage proposal

January 30, 2007

Dow Jones management, which is currently negotiating with the union that represents business journalists at its Wall Street Journal, Barron’s and MarketWatch publications, nudged a bit on Tuesday in terms of what it offered for future salary increases.

Dow JonesAccording to an update on the union’s web site, “We are seeing some additional signs of movement by the company’s negotiators, which is good. But they still are far from agreeing to the kind of contract we need.

“The company’s team made new proposals on wages, for example. Their original proposal was 2% a year. Their new proposal? Still 2% for the first year and the third year. But now they are prepared to go to 2.5% in the middle year of a three-year deal.

“On health premiums, the movement is similar. They have finally provided us with a schedule of the actual premiums they want to make you pay. They are no longer talking about a four-fold increase in our premiums in 2008. Now they want to triple them, or in some cases more than double them—depending on how much you make and what plan you use.

“On outsourcing, a subject they formerly wouldn’t discuss, they are offering to consult with the union before laying people off, and to give outsourced employees improved severance packages. But they refuse to put any restrictions on their ability to outsource at will.”

Read more here.

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