Reuters journalists, technicians, and other members of the Newspaper Guild of New York voted today to accept a new three-year contract with Thomson Reuters Corp.
The agreement provides for 1.5 percent raises for each of the next three years, restores a company 2 percent retirement account contribution, and will give each of the 430 Guild-covered employees a lump sum payment “to settle charges at the National Labor Relations Board and in exchange for accepting some work rule changes.” Each employee will get, on average, $17,000 over three years.
That doesn’t include any possible settlement payments from a NLRB charge that Thomson Reuters’ social media policy violated federal standards by restricting employees’ rights to discuss working conditions (the “water cooler” principle). Settlement talks between the Guild and the company are ongoing for that charge, the Guild said.
The company’s prior contract expired 18 months ago.
“It’s been a long battle and we’re happy that it is behind us,” New York Guild President Bill O’Meara said in a statement. “We have a new contract that rewards Guild employees for the critical work they do to make Thomson Reuters successful. I truly hope that this new contract sets the stage for a productive and positive relationship with the new Thomson Reuters management team.”