By: E&P Staff Unions representing 900 workers at the Denver Newspaper Agency (DNA) have tentatively agreed to wage and benefit cuts averaging 11.7%, the Rocky Mountain News reported Wednesday.
DNA, which handles the production, distribution and business operations of the E.W. Scripps' Rocky and MediaNews Group's The Denver Post, had sought $18 million in concessions from the union. The Rocky story, by Finance Editor David Milstead and Jeff Smith, said it was unclear if the cuts under the tentative agreement meet that goal.
The agreement would reduce salaries by 7%, mandate 10 unpaid days off for most employees, suspend DNA's matching contributions to 401(k) retirement plans, reduce the number of sick days, and increase health and dental premiums, the Rocky reported.
The article quoted Tony Mulligan, the administrative officer for the Denver Newspaper Guild, as saying layoffs could not be ruled out, even with the agreement.
Scripps put the Rocky up for sale in early December, saying it would fold the tabloid if no buyer could be found. Scripps ended bidding in mid-January without saying if any credible bidders emerged.
In a conference call with analysts last week, CEO Rich Boehne said Scripps would announce the fate of the newspaper "soon," and in any event before the end of March.
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