The planned Budget day strike at The Independent was averted after a late deal from management.
Up to 200 NUJ members at the two Indy titles were due to strike from midnight, Wednesday in protest at a 2.5 per cent pay offer. According to the NUJ the new agreement sticks to the 2.5 per cent rise but also includes a 5 per cent increase on minimum pay bands, a training agreement, a guarantee of no compulsory redundancies until at least April 2007 and bonuses to all staff employed since the switch to tabloid, of between £200 and £500.
According to the NUJ, the deal was done at 6pm on Tuesday when management offered to extend the cash bonuses from members of staff with 10 years’ service to include all staff who have been at the paper since the tabloid version was launched two years ago.
Independent News and Media’s results revealed on Wednesday that the Independent titles lost £10 million last year and the titles are unlikely to move into profit this year.