WASHINGTON – EFE News Services proposed broader and deeper wage cuts for its U.S. workers on Tuesday as the Madrid-based news agency faces continuing financial problems.
As talks began a year ago, EFE proposed a five percent wage cut for certain senior employees, a decrease in medical costs of 15%, and a 25% cut in 401(k) contributions – all taking effect on Jan. 1, 2012.
Workers have already endured a four-year-long wage freeze.
On Tuesday, the employer said it was proposing a continued wage freeze for 2012, and an across-the-board wage cut of ten percent starting Jan. 1, 2013. Wages would remain cut through the proposed life of the contract, which would expire Dec. 31, 2014.
WASHINGTON, Dec 14th — The News Media Guild began contract talks Tuesday with the EFE News Service, proposing a 5% general wage increase for employees in the United States.
Workers at EFE have endured almost three years of a wage freeze.
“EFE workers have done their part to help the company cope with tough economic times, while increasing productivity and multitasking in new technologies”, said Tony Winton, the Guild president and chief negotiator.
“But the cost of living it continues to increase and EFE needs to make sure its employees don’t fall further behind,” he added. Continue reading