Yesterday Dow Jones presented IAPE’s bargaining committee with a wage proposal that is far less encouraging than the rosy commentary from senior executives on the company’s performance and outlook.
The company offered the union 2% annual salary increases for the next three years while continuing to push for the elimination of the cost of living adjustment provision in our contract.
The union-negotiated raise has been at 2% for eight years and is the same increase we settled for in 2016 against the backdrop of a precipitous decline in ad revenue, consolidation of sections in The Wall Street Journal and global layoffs at the company.
This year, COLA comes in at 2.44%. Had our 2016-19 contract been in effect through 2020, with a 2% raise scheduled for July 1 of this year, existing COLA protection would have required that members receive a 2.44% raise.
Since the beginning of these negotiations IAPE has fought to hold on to a mechanism designed to shield members in the event that inflation wipes out the minimum yearly raise guaranteed in our contract. The company’s wage proposal makes clear we will have to fight harder for raises that simply keep pace with the cost of living.
We also know that our members have made sacrifices through years of stagnant wages and rising health care costs to help the company to better footing.
We are certain your hard work has helped give Dow Jones the “distinctive ability to prosper in the digital age” and we will continue to push for an annual compensatory increase that truly recognizes your value. We think we’re worth more.
We want to hear your stories of financial sacrifices you have made because of low salary increases over the years. Have you had to look for extra work? Have you struggled to make ends meet? What have you had to give up in order to keep up with the cost of living? We want to hear from you. Please fill out this submission form if you have a story to share.
We will also need your continued support with visibility around the office. Help us keep up the momentum with the upcoming T-shirt Tuesday on October 1. Make sure your colleagues around you have their shirts and are ready to show their support for an increase that keeps up with the cost of living. If folks still need their shirts, check the last campaign update for info on upcoming pickups.