Journalists at the Financial Times are to ballot on industrial action after rejecting a 2 per cent pay rise.
The NUJ chapel is also opposing alleged threats to collective pay negotiation, and claimed the mood among the 150 journalists who met to discuss the action last week was ‘determined”
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They believe that the management is out of touch with the workforce and that the below-inflation pay deal is unacceptable – especially as Pearson remains well in profit,’said the NUJ.
‘The management’s proposal to keep back nearly half of a potential award of 3.5 per cent to hand out to select individuals has been seen as deeply divisive and an attack on union collective bargaining, as set out in the FT House Agreement.”
The chapel did, however, say it was open to any offer of further talks with FT management.
Father-of-chapel Steve Bird, FoC said: “A low pay offer is bad enough, but plundering the pay fund to retain staff or reward select individuals has added insult to injury.
‘The majority should not be forced to subsidise opaque bonus payments with yet another real terms pay cut. Industrial action is not something to be taken lightly, but the chapel is united over this.”
NUJ national organiser Fiona Swarbrick added: ‘We are keen to resolve this dispute, but management must demonstrate that they understand the financial pressures our members are under at the current time.
“They must channel more of the pay fund into alleviating the impact of high inflation on their staff. We are not at all surprised that the FT chapel has become so frustrated.
“Pay rises in recent years have reflected neither the cost of living nor Pearson’s increasing profitability.’
The FT declined to comment.
Last week, journalists at the business news agency Thomson Reuters announced they were to ballot on industrial action following an ‘insulting’1.5 per cent pay offer. Some claimed they would be unable to work for the company because they could no longer afford to pay their train fares to work or pay their bills.