Bargaining Update: Let’s Hear it for Dianne

We have to hand it to Dow Jones CPO Dianne DeSevo—she knows how to spin a tale.

In case you missed it, DeSevo shared the company’s recap of Thursday’s contract bargaining session.

“Our increased combined wage proposal for years one and two is now 7.25%,” DeSevo wrote late this afternoon in a note to all Dow Jones staff, “with the lower-paid one-third of the IAPE bargaining unit receiving even higher increases, up to 14%.”

She’s right, you know. In fact, 13 IAPE-represented employees would receive pay increases equaling 14.07% under the proposal offered by the company today.

Thirteen.

So, let’s be honest about the big issues that remain on the bargaining table. DeSevo is 100% correct to say “we remain far apart on wages.” But to suggest that the union has ignored “multiple increases” in the company’s wage proposal is disingenuous.

IAPE members are keenly aware that Dow Jones has moved from proposals of 3% for 2023, 3% for 2024 and 3% for 2025, to a proposal today that—when the “combined” years one and two raises are split in two—add 0.625% to those proposals for 2023 and 2024.

And what else are we forgetting . . . oh, right. Still not retroactive.

And DeSevo is right that the IAPE Board of Directors’ decision to authorize a strike vote is “unfortunate,” but not because of “progress the parties have made.” We would argue precisely the opposite.

Look, the proposal document presented by IAPE today speaks for itself. IAPE members are speaking out, too. The company hears us, loud and clear.

Asia Layoffs

The union is sorry to learn that eight reporters from the Hong Kong and Singapore offices have been laid off from the company. With more than 30 years of combined experience and expertise at The Wall Street Journal, they covered China, technology and markets, winning some of journalism’s highest awards.

As WSJ Editor in Chief Emma Tucker noted today, “it is difficult to say goodbye.” But it appears to be getting easier for Dow Jones after laying off dozens of reporters in Washington and overseas and several Sales, Technology and Content Management staff since the beginning of the year. 

We don’t know why News Corp is hellbent on cutting jobs and denying us inflation-adjusted cost-of-living increases at a time of record revenues and subscriptions, but management sure loves talking about everything AI right now. 

Unfortunately, Dow Jones employees are bracing for more likely cuts in the coming weeks – even though Chief Financial Officer Susan Lee Panuccio boasted in February that it was “pleasing” that News Corp was already ahead of its targets for layoff-related cost cuts.

As for employees, we’re a lot less stoked. We’re sad to have lost some great colleagues in Asia – especially since the savings on their salaries wouldn’t even cover four days’ worth of News Corp stock buybacks this week. 

While Dow Jones likes to tout its tiny 0.25% increase in wages (over two years), IAPE members have seen *zero* respect, compassion or empathy from the company for how hard this wage freeze, no back pay and constant fear of layoffs has been on our hard-working employees and their families. #WeDeserveBetter #WeDeserveMore