June 30, 2015
IAPE Members Choose Contract Extension
IAPE members have spoken, and their message seems clear.
Last week, the IAPE Bargaining Committee conducted an online survey of IAPE members, asking whether they would prefer to extend the current contract between the Union and Dow Jones & Company for another year — keeping all terms, including the Company's flexibility to modify healthcare — or negotiate toward a replacement for the deal set to expire today.
IAPE members responded, and three-quarters of the membership delivered a message: extend the contract.
Out of 662 survey replies, reflecting approximately 47% of the bargaining unit covered by this contract, 497 opted to extend the current contract. 148 — or 22.36% — wanted to negotiate a new deal, and 17 IAPE members were undecided.
The IAPE Bargaining Committee has already informed Dow Jones management representatives of the decision to extend the collective agreement by one year, effective July 1, 2015.
Management is working on a draft Memorandum of Agreement to be presented to the Union committee later this week or early next. IAPE representatives will review that document and present it to the Union's elected Board of Directors for approval. Once done, the IAPE Election Committee will schedule a ratification vote, likely to take place in mid- to late-July.
Only members in good standing may vote in the upcoming ratification.
The tentative agreement with the Company calls for a 2% compensatory increase and a 1% adjustment in introductory pay scales (for those newer employees progressing through those scale levels). All other terms and conditions of the IAPE contract remain unchanged through June 30, 2016.
Raises will likely be processed in August or September, but will be paid retroactive to July 1. Employees who were hired or transferred into IAPE-represented positions after May 1, 2015 are not eligible for a 2015 contract pay increase.
Exact dates will be passed along to the IAPE membership as soon as they become available.