The Boston Globe, owned by The New York Times Co., said late Friday the Boston Newspaper Guild ratified a four-year labor contract with the company.
The contract is effective from Jan. 1, 2006 to Dec. 31, 2009. The Newspaper Guild represents 1,000 full- and part-time employees at the newspaper, working in the newsroom, advertising, circulation and other departments. The contract was ratified by a vote of 364 to 194.
The agreement calls for wage increases in two steps in 2007, in January and July, totaling a 1.3 percent increase for the year. Wages will rise another 1.4 percent in 2008. Wages can be renegotiated in 2009. Wage increases are contingent on combined Boston Globe and Boston.com revenue equaling or exceeding the previous year’s revenue.
The agreement also calls for integrating 38 new positions in news content and advertising from Boston.com.
Shares of New York Times rose 70 cents, or 3 percent, to close at $24.38 on the New York Stock Exchange. The stock has traded between $21.54 and $28.98 over the last 52 weeks.