The Forbes editorial staff, represented by the Forbes Union, organized a walkout on Tuesday amid ongoing negotiations between the union and Forbes management over raises and salaries.
Notably, the walkout was arranged on a day that would have an impact on Forbes operations: the day the business outlet giant plans on releasing its trademark 30 Under 30 lists. The release includes 20 lists of 30 influential people under 30 years old who are recognized for their achievements across several industries.
The Forbes Union currently represents about 100 writers and other editorial staffers at the publication.
The contract the union is aiming for includes a $75,000 wage floor, 8% annual raises and a 15% minimum on promotions. It is also asking for bonus pay for working overtime and on weekends. Forbes management has countered by proposing $60,000 minimum salaries, a 1% annual raise and a 5% minimum increase for promotions.
One staffer posted on X on Tuesday morning about their decision to walk out, saying he did so because Forbes “is dragging its feet and breaking labor law. A contract is inevitable, Forbes. But the work disruptions, embarrassment and bad press will continue until bargaining improves.”
Union members told Fox News that Forbes management had been stalling bargaining with the editorial staff for nearly three years.
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“We have been and will continue to be ready to get this contract done, including pay that recognizes the value we bring to Forbes,” said Andrea Murphy, unit chair and statistics editor for Forbes.
“Right now, Forbes is proposing a minimum salary of $60,000 for employees, people who start out at Forbes. That is just not a fair salary for the amount of work that people are doing.”
The NewsGuild of New York confirmed it had been working with the Forbes Union to get a new deal for the past three years. The NewsGuild released a statement on Tuesday saying that Forbes employees have been “met with disrespect and illegal, union-busting tactics” by management during these negotiations.
Forbes said in a statement to the Guardian: “We are working diligently with the NewsGuild of NY to reach a collective bargaining agreement and have reached tentative agreements on several proposals. While we respect their right to stage a walkout, we are disappointed by the union’s decision, especially when we have a bargaining session scheduled tomorrow and a willingness to meet across the month. In the meantime, Forbes continues to serve its audiences and publish its content across platforms.”
