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Some 1,000 New York Times Co (NYSE:NYT) employees planned "walk out" Thursday.
The walk-out stems from employees’ demands for higher pay amid rising costs in New York City.
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This is the company’s first "walk out" since the 1970s, according to the BBC.
Read Also: New York Times Employees Stage Walk Out Saying Pay Increase Not Enough
Amanda Hess, vice president of NewsGuild, the union that represents New York Times employees, took to Twitter to ask followers to join her and other union members who were staging the walkout.
We're asking readers to not engage in any @nytimes platforms tomorrow and stand with us on the digital picket line! Read local news. Listen to public radio. Make something from a cookbook. Break your Wordle streak.
— Amanda Hess (@amandahess) December 7, 2022
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Many people are tweeting about willingly losing their Wordle streaks — how many days in a row they’ve guessed the puzzle correctly — to stand with New York Times workers. New York is notorious for its high cost of living.
According to Times correspondent Dani Goldstein, some employees are making less than $50,000. Some employees have complained that their costs of living have risen more than their salaries have.
Buzzfeed Inc (NASDAQ:BZFD) laid off more than 100 employees earlier this week in an effort to reduce costs.
Like Buzzfeed, New York Times has seen a decline in ad spending but has been able to rely on subscription services and acquisitions (The Times purchased Wordle earlier this year).
In fact, New York Times has been able to afford stock buybacks and million-dollar-compensation packages for executives. So, it may be tough to try and tell union members that the company can’t afford to pay higher wages to its employees.
Next: Starbucks Stock Flat In Reaction As Employees Go On Red Cup Day Strike
Photo by Nils Huenerfuerst on Unsplash
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.