WSJ union runs ad critical of Dow Jones CEO in New York Times

The union that represents journalists at the Wall Street Journal has run an ad in today’s New York Times about the contract negotiations it’s currently holding with parent company Dow Jones in the wake of the redesigned, smaller Journal.

The headline for the ad is, “The size of the paper isn’t the only thing shrinking at the Wall Street Journal.”

The text of the ad partially reads, “Dow Jones CEO Richard Zannino is pushing changed that punish the journalists he’s repeatedly praised as the Journal’s ‘most important asset.’ These changes threaten the editorial quality that readers have depended on for over a century.

“Mr. Zannino’s proposal to boost employee health care costs by 400% would take thousands of dollars a year out of employees’ paychecks, more than eating up the paltry raises Dow Jones is offering. The Journal fired all its reporters in Canada and has begun outsourcing some crucial Wall Street reporting to another company. In the meantime, Dow Jones has outsourced more than 200 IT and support jobs.

“Reporters, editors, managers, readers and investors all understand one fundamental fact about The Wall Street Journal: The Journal is all about quality.

“Without good pay and benefits, Dow Jones can’t expect to attract and retain the best in the business. If the quality journalists leave, the editorial excellence of The Wall Street Journal goes with them.”

Read the union’s explanation for running the ad here. The union is asking readers to send them an e-mail if they agree with their position, and they’ll “make sure Dow Jones hears the message.”