'Consumer Reports' Parent Strikes Deal With Newspaper Guild of New York to Avoid Layoffs

By: Lucia Moses Consumers Union, publisher of Consumer Reports magazine, reached a tentative agreement with the Newspaper Guild of New York, for now allowing the Union to avoid threatened layoffs.

In exchange, Guild members would have to give up a 3 percent pay increase scheduled to kick in in January 2010; the company 401(k) match in 2010; and other benefits. The agreement is subject to union ratification. A vote was scheduled for the morning of July 17.

The Guild represents about 350 scientists, writers, researchers and administrative staffers.

The not-for-profit company, saying its business has suffered from softening consumer spending, earlier this month notified the Guild that it would be forced to lay off 21 people unless it could find $1.8 million in savings.

-- Nielsen Business Media