For two hours today, 250 journalists at the Financial Times stopped working to protest a pay dispute between the company and the Nation Union of Journalists—the UK’s trade union for journalists, the Press Gazette reported. (via Talking Biz News)The protest happened at around 3 pm—that’s before the market close in the UK, people.
The dispute centres around the increase in the amount of money that the FT is setting aside for employee pay versus the increase of actual employee pay. Apparently, there’s a disconnect.
The minimum increase is two per cent for all staff, with many getting 2.5 per cent.
The total editorial pay pot is understood to be rising b 3.5 per cent but management at the company propose using much of this to reward particular staff. This move seen by the union as an attack on the collective bargaining arrangement contained within the FT house agreement.
Essentially, the journalists are mad because a portion of the pot of money for employee pay are getting set aside for bonuses. And journalists don’t like bonuses, do they?