Canada's Globe & Mail employees vote for pay freeze
Posted by Emily Dilling on July 8, 2009 at 9:05 AM
Canada's Globe & Mail employees voted in favour of a labour contract that includes a two-year pay freeze Reuters reported.
Under the new contracts, workers will receive a 2 percent raise in the third year of their employment followed by 2.5 percent increases in the fourth and fifth year of the contract.
The agreement struck between the newspaper and the worker's union will retain the benefit pension plan, while requiring employees to take part in a "defined contribution retirement plan". The pay cuts and modified contracts follow an announcement by the Globe in January that it would eliminate 80 jobs.
Under the new contracts, workers will receive a 2 percent raise in the third year of their employment followed by 2.5 percent increases in the fourth and fifth year of the contract.
The agreement struck between the newspaper and the worker's union will retain the benefit pension plan, while requiring employees to take part in a "defined contribution retirement plan". The pay cuts and modified contracts follow an announcement by the Globe in January that it would eliminate 80 jobs.
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