• by Ray Schultz , June 17, 2024

Dow Jones has reached a four-year agreement with the Independent Association of Publishers' Employees (IAPE), Local 1096 of The NewsGuild-Communications Workers of America, covering 1,400 employees in the U.S. and Canada. 

The deal, which was attained after a year of negotiations, calls for a combined minimum 8% wage increase for the first two years of the contract, along with a lump sum payment of 4.25% of pay or $4,250, whichever is larger, representing retroactive pay from July 1, 2023 through June 30, 2024, for all eligible IAPE employees).  

The agreement succeeds the prior contract that expired on June 30, 2023 and was extended through March 31 of this year. 

Union members will be asked to ratify the tentative contract in a vote later this month. If  approved, it will run through June 30, 2027. 

The remaining wage increases total 3.75% effective July 1, 2025 and 3.75% on July 1, 2026.

In addition, there will be a lump sum ratification bonus equal to 1% of base pay as of June 30, 2023 for those eligible, with a minimum payment of $1,000.00. 

The tentative agreement provides for a 5.75% increase to the minimum scales effective July 1. This includes a $72,800 minimum for reporters. 

In another boon for employees, the firm’s health insurance plan will be extended with a freeze on premium rates, deductibles, copays and other plan terms through 2024. Future premium increases are capped through 2027.  

Also agreed on are enhancements to mental health coverage and parental leave benefits, and one additional paid company holiday.