As the New York Times failed to make a deal last year in which more than a thousand of union workers walked out for a whole day, an agreement has been reached. New York Times Guild’s two-year negotiation with the company finally is nearing its end as New York Times has made a new contract agreement with the union.

Once this is approved, the deal would increase a union reporter’s and contributor’s salary to $160,011 and a union member’s to $136,220. This memo was relayed to union members by New York Times’ Deputy Managing Editor Cliff Levy.

The New York Times Guild is involved with NewsGuild that speaks on behalf of members of the media. This includes but is not limited to journalists, comment moderators, ad sales workers, as well as the staff and security of the company’s events venue, virtual production studio and The Times Center.

Other Benefits From the Agreement

Aside from the salary increment of members, there is also an increase of 18.4% in overall salary. Job classifications for editors and news reporters will broaden with new categories. The agreement also includes twice the fertility benefits, to reach up to $50,000.

Furthermore, a hundred million dollars will be allocated for NewsGuild members’ new spending budget.