The union that represents business journalists at The Wall Street Journal, Dow Jones Newswires, MarketWatch.com and Barron’s has asked the parent company for raises of at least 3.25 percent over the next three years.
The raise requests are 3.25 percent for 2019, 3.5 percent for 2020 and 3.75 percent for 2021. The company is offering raises of 2 percent and wants to eliminate the cost-of-living adjustment, according to a statement from IAPE 1096, the union.
The two sides will meet again on Tuesday.
The union states, “We started negotiations with a comprehensive proposal and have made gains in a number of areas. In the interest of keeping the conversation moving, we have also reluctantly pulled back some items, such as proposals for enhanced severance and retraining allowance and protections around workplace surveillance and monitoring.
“We have continued to push the company on other issues, including an eight-year progression for reporter salaries, preserving current 401(k) fixed and matching contributions and protections for members if Dow Jones is sold in whole or in part. In 2016, we negotiated an upside protection in the event non-IAPE staff received more than our minimum guaranteed raise. This year we asked for management and executive bonuses to be included in that calculation, as another way to address pay inequity at Dow Jones.”
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