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Job and wage security provided for New UPI workers.

Job and wage security provided for New UPI workers

New UPI, Inc., the successor to financially troubled United Press International, negotiated a 1-year contract that provides job and wage protection for the 750 employees remaining in the bargaining unit. Since 1984, when the union agreed to a 25-percent pay cut to aid the news service, which is operating under protection of the bankruptcy court, hundreds of employees have lost their jobs.

Under the accord, which expires April 20, 1987, wages are set at 105 percent of the levels in effect immediately prior to the cut; company debts to the union and the employees will be paid in full (compared with 40 percent to most other creditors); the company will not reduce the number of full-time permanent employees in the unit during the agreement term, and will consider the possibility of increasing the work force; a profit-sharing plan will be established; and the company will invest $15 million in new equipment over the next 2 1/2 years.
COPYRIGHT 1986 U.S. Bureau of Labor Statistics
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Copyright 1986 Gale, Cengage Learning. All rights reserved.

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Title Annotation:collective labor agreements
Publication:Monthly Labor Review
Date:Sep 1, 1986
Words:167
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