IAPE & Dow Jones Agree To Three-Year Contract
NEW YORK, Nov. 04, 2019 (GLOBE NEWSWIRE) -- The Independent Association of Publishers’ Employees (IAPE), Local 1096 of The NewsGuild - Communications Workers of America and Dow Jones & Company have reached a tentative agreement on a new three-year collective bargaining agreement covering nearly 1,300 employees across the United States and in Canada. The deal, agreed to by representatives of the Union and the Company, has been approved by the elected Board of Directors of IAPE, and will be presented to union members for a ratification vote later this month.
The tentative agreement (succeeding the prior agreement that expired on June 30, 2019 and was extended to October 31, 2019), provides first year minimum salary increases of 2% for all IAPE-represented employees retroactive to July 1, 2019, and includes a ratification bonus of $700 for each full-time IAPE-represented employee (and pro-rata bonuses for part-time employees). The wage increase effective July 1, 2020 is a minimum of 2.25%, plus a target lump sum bonus of 0.5%. Effective July 1, 2021, the minimum increase is 2.5%, plus a target lump sum bonus of 0.5%. The lump sum bonuses will be tied to Dow Jones’s performance and the funding level of the management bonus pool. Other increases are possible based on a cost-of-living trigger or if the Company’s pay increase “guidance” for non-union employees is higher than the minimums listed above.
The agreement includes an extension of the Company’s 2019 health insurance plan through 2020 with a freeze of health insurance premium rates, deductibles, copayments and other plan terms for all IAPE-represented employees in the United States. Premium increases and plan design changes are capped for 2021 and 2022 under the terms of the new agreement. Other contract changes tentatively agreed to include: increases in the salary scales for Reporters and Information Technology jobs, higher minimum scales for other selected job titles, along with a general increase in minimum salary scales in each year of the contract, a revised process for overtime-exempt employees to earn compensatory time off, a coordination of leaves of absence rights and certain benefit entitlements with corporate standards applicable to management staff, limitations on the Company’s right to engage temporary employees for more than one year, enhanced job security rights in certain situations, and greater notice requirements for changes in work schedules.