After rejecting two contract offers from Cablevision, Newsday‘s union employees have agreed to a 5 percent wage cut over three years. Truckers will lose twice as much, according to Keith Kelly.
Newsday publisher Terry Jimenez called an earlier version of the contract “Newsday’s last, best and final offer.” The current version now includes a one-time contribution to employees’ retirement accounts, amounting to 1 percent of their salary, scheduled for 2013.
The union didn’t have much choice about approving the contract this week. If employees hadn’t approved a contract by July 5, Cablevision would have gone forward with the cuts anyway.