Congrats Denver Post employees - here's a pay cut.

The good news is that layoffs aren't part of the deal, but it locks in 7 furlough days on top of pay cuts, no 401k, and higher health costs.

(DENVER POST) Union-represented workers at The Denver Post voted Tuesday to approve a new contract that calls for nearly $2 million in annual wage and benefit reductions.

The three-year newsroom contract mandates wage cuts ranging from 6 percent to 9 percent, depending on salary; higher health-insurance costs; seven days per year of unpaid furloughs; and a suspension of employer contributions to 401(k) retirement accounts.

The deal resulted from several weeks of negotiations between representatives of the Denver Newspaper Guild and a management team consisting of Denver Post and Denver Newspaper Agency officials. The DNA conducts business operations for The Post.

A separate concessions package was approved last week by DNA information-technology workers, and four other DNA unions also have renegotiated contracts on the table that are awaiting votes by members.

Post and DNA officials have said they need a total of $20 million in annual budget reductions from the unions in the face of a steep drop in advertising revenue.

Some or all of the concessions would be restored if The Post and DNA record four consecutive quarters of profits.

 

Jeebus. If them's the concessions...

 

That's big concessions for a union shop. It's probably what was required to save jobs.

 

Wonder if Dean will also "experience" the difference?

 

You have to vote yes given what the alternative is...

 

This wasn't a surprise. The staff was aware of this decision a few weeks back. They just held the vote earlier this week.

 

Wonders what have a monopoly will do, ain't it?

 

You've got to be kidding.

Let's just shut off the damn lights and work by candle light.

Once again, there's nothing good to say about this situation. God's speed to everyone left in the business to go out and find something else.

 

Thing is - say you're making $40k, figure you lop off $800 for the furlough week, drop at least another $2,000 from the pay cut, throw in the extra $600 a year for the health care increase, and that's an easy $3,400 a year or about a month's pay you're not taking home. And I was being conservative.

 

Less surprising than the Bristol-Levi split.
And this won't save jobs. It will delay, for a while, the inevitable ax-wielding.

 

I have a couple friends at The Post and it is very difficult for them to lay off non-management because of the union. They can have another round of buyouts or they can axe managers, but the reporters and editors there feel pretty safe as long as the place doesn't fold.

This is part of the reason why The Rocky never had a round of layoffs before it folded. The Post has not had any layoffs of non-managers yet.