OLD Media Moves

FT journalists stop pay talks after Barber’s compensation revealed

Journalists at the Financial Times have called a halt to pay negotiations after it was revealed that the former editor Lionel Barber was paid more than £1.9m last year – including a £500,000 “loss of office” payment, reports Archie Bland of The Guardian.

Bland reports, “Barber, the FT’s highly regarded editor since 2005, was given the pay and pension package despite a dip in profits over the same year, accounts filed at Companies House showed. The package, first reported by Press Gazette, comprised £1.4m in pay, £502,000 in lieu of notice, and a further £10,000 into his pension scheme.

“After the FT’s National Union of Journalists chapel was informed of the figures, it called a meeting of staff to discuss the issue on Thursday and then issued instructions to union representatives to suspend negotiations ‘until clear answers are provided about remuneration for senior staff.’

“The statement noted that Barber’s deal had come to light ‘at the end of a year dominated by pay restraint and job cuts’ and demanded that the company provide ‘full transparency about all senior executive pay and performance targets.'”

Read more here.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.

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