Time Inc., union agree on labor contract |
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Fri, 28 Sep 2007 22:20
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NEW YORK (AP) - Magazine publisher Time Inc. has reached a tentative contract agreement with a union representing employees at Time, Fortune and other magazines, the union said Friday.The three-year contract calls for guaranteed annual pay increases and other changes from the company's previous offer, which was made to the Newspaper Guild of New York shortly before the previous contract expired on March 22.The union, however, withheld details of the contract agreement pending a ratification vote by its members, who include writers, editors and photographers at Time, Sports Illustrated, People, Fortune, Fortune Small Business and Money.In late June the union voted 133-0 to reject the company's previous offer, which the union said would have 'drastically cut' severance pay and provided no guaranteed wage increases.Time Inc. is a major magazine publisher and is part of the Time Warner Inc. media conglomerate, which also owns Warner Bros., HBO, CNN, Time Warner Cable and AOL.As part of the agreement, the union agreed to withdraw a complaint in front of the National Labor Relations Board that the company had been bargaining in bad faith.The Newspaper Guild also represents workers at The New York Times, Reuters Group PLC and Consumers Union.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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