By: Lucia Moses
A tentative labor contract between Dow Jones & Co. and its biggest union forced the union to make more concessions that it ever has, but the deal is “the best possible” at this time, said Ron Chen, president of the Independent Association of Publisher’s Employees (IAPE) Local 1096.
Under the proposed contract, IAPE members would get percentage raises of 0, 2.5, and 3 for 2003, 2004, and 2005, respectively, which is less than the 5% yearly raises the union sought. The agreement would for the first time require employees to pay health insurance premiums. The deal is subject to approval by the union board and 1,600 union-represented employees.