New York Times Employees Stage Walk Out Saying Pay Increase Not Enough

Several New York Times Co NYT employees are preparing for a one-day walkout on Thursday, the first full-day work stoppage at the Times in over four decades, saying the management's proposed wage increase isn't enough.
The unionized employees are calling for, among other things, wage increases that keep pace with rising inflation and for the company to preserve health care and retirement benefits.
Monday, More than 1,000 union employees at New York Times pledged to walk out if the news publisher failed to reach a "complete and equitable contract."
Times journalists have been without a contract since March 2021, Bloomberg reported.
But according to Times spokesperson, the company's current wage proposal offers "significant increases," and its medical and retirement proposals "offer sustainable, best-in-class options."
A NewsGuild of New York representing the employees said that a walkout was "very likely at this point."
In a tweet, the union asked Times readers not to engage with the company's platforms Thursday "and stand with us on the digital picket line!"
Price Action: NYT shares closed at $34.51 on Wednesday.