The head of the printers and mailers unions at the New York Times blasted the $4.5 million “golden parachute” outgoing CEO Janet Robinson will get to consult for the company while workers shoulder cutbacks and wage freezes.
“The Times likes to slam CEO excess until they are the ones doing it,” said Arthur Delanni, president of the Allied Printing Trades Council of New York and of the New York Mailers Union Local 6, both of which are within the Communications Workers of America.
The mailers, who are responsible for preparing newspapers prior to loading onto delivery trucks, have been without a contract since March 31. Delanni said the last offer from the company proposed a 26 percent pay cut — even though the 170 mailers have not had a raise since 2005.
“The Times management should listen to its editorial board, which has criticized skyrocketing CEO pay, saying, ‘It is clear that CEO pay has skyrocketed while workers pay has stagnated; it is also clear that skewed pay and rising income inequality correlate to bubbles and crashes,’” said Delanni.
New York Times Co. tried to portray Robinson’s departure at the end of the month as a voluntary “retirement,” with Chairman Arthur Sulzberger Jr. stepping in as interim CEO while the search for a successor gets under way.
That scenario began to unravel when the Times disclosed in its own reporting that Sulzberger and Robinson had met the previous Friday and that the chairman “raised the question of installing a different type of leadership at the company.”
“It looks very strange,” said Douglas Arthur, an analyst at Evercore. “I don’t think there is any question at this point that she was forced out.
“Clearly, there is disenchantment somewhere in the company’s ranks, whether it’s Chairman Sulzberger, the overall family, the board or even Carlos Slim, the largest outside owner of stock.”