< Back to All News

Guild declines 401(k) freeze, seeks better exit pay

The Guild, in a bulletin to members, said it has “declined” MediaNews Group’s request that it freeze the company’s match on employees’ 401(k) plans. MediaNews is freezing the benefit for non-union workers here and in other parts of the country.

“We declined this initial request, but asked for financial information detailing the need for their proposal and the potential savings. For now, the match will remain in place for BANG-EB bargaining unit members,” the bulletin said.

The bulletin said the Guild is asking for three weeks severance per year of service in the event of layoffs, with a minimum of four weeks pay. The Guild has also proposed a new pay scale and is asking that schedules for deskers and other shift-workers be posted at least three weeks in advance.

< Back to All News