FT walkout canceled after journalists receive better offer

Andrew Pugh of the Press Gazette in London reports that Financial Times journalists have canceled a scheduled walkout after receiving a better contract offer from management.

Pugh writes, “But last night the NUJ’s FT branch tweeted: ‘A large meeting of the FT chapel votes to accept an improved and more equitable pay offer and call off Thursday’s industrial action.’

“The minimum pay increase on offer was originally two per cent for all staff, with many getting 2.5 per cent, but the total editorial pay pot was 3.5 per cent – with management proposing to use the remainder to reward particular staff.

“Under the new offer, in July a further 0.5 per cent will be paid to all FT editorial staff from the balance of the overall 3.5 per cent payroll increase.

“In an email to staff yesterday the paper’s managing editor Lisa MacLeod said the 0.5 per cent would be consolidated into salaries from 1 July to year-end and is in addition to the award of between 2 and 2.5 per cent made to all FT editorial staff in January.”

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