New York Times Employees Stage Walk Out Saying Pay Increase Not Enough

  • Several New York Times Co NYT employees are preparing for a one-day walkout on Thursday, the first full-day work stoppage at the Times in over four decades, saying the management's proposed wage increase isn't enough.
  • The unionized employees are calling for, among other things, wage increases that keep pace with rising inflation and for the company to preserve health care and retirement benefits. 
  • Monday, More than 1,000 union employees at New York Times pledged to walk out if the news publisher failed to reach a "complete and equitable contract."
  • Times journalists have been without a contract since March 2021, Bloomberg reported.
  • But according to Times spokesperson, the company's current wage proposal offers "significant increases," and its medical and retirement proposals "offer sustainable, best-in-class options."
  • A NewsGuild of New York representing the employees said that a walkout was "very likely at this point." 
  • In a tweet, the union asked Times readers not to engage with the company's platforms Thursday "and stand with us on the digital picket line!"
  • Price Action: NYT shares closed at $34.51 on Wednesday.
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