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Financial Times NUJ Drum News

Financial Times Group journalists vote for strike action

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By The Drum Team | Editorial

February 27, 2012 | 2 min read

The NUJ has said that it is open to “meaningful negotiations” with the Financial Times Group after its journalists voted for strike action.

Journalists are reported to have voted three-to-one in favour of strike action.

The ballot result, taken over the company’s pay deal, is said to be a “sign of anger” according to Steve Bird, who heads up the Union’s chapel at the FT Group, as the company posted an operating profit growth of 27%, up to £76m, in 2011.

Barry Fitzpatrick, NUJ deputy general secretary said: “The union remains open to meaningful negotiations If they will not compromise, it now seems inevitable that NUJ members will be left with no other option but to take strike action if they are to achieve a fair pay rise. In the context of several years of below-inflation pay rises for our members whilst executive reward at the company continues to soar, it is hardly surprising that FT staff have reached the end of their tether.”

Michelle Stanistreet, NUJ general secretary, added: “The FT is making a good profit and in its end of year report, the group is claiming that it has achieved the highest circulation in the paper’s history. So why is it offering its journalists, who must take credit for this success, an insult of a pay deal?”

Updated: A spokesperson for The Financial Times told The Drum: "The proposed salary increase we have offered FT journalists is 3.5%, with 2%-2.5% for all staff and 1% reserved for merit, promotions and anomalies. In line with our positive results announcement, all staff will also receive a bonus this year. We believe this pay offer compares favourably with the rest of the industry and we have avoided any compulsory redundancies at a time when news organisations around the world are facing exceptional challenges."

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