Time Inc. Proposes 3-Year Contract...With Raises

Time Inc. and the New York Newspaper Guild have finalized the language in a three-year contract that guarantees raises of 1.5%, 2% and 2% in 2011, 2012, and 2013. Additional merit pay, the Guild says, is certainly not out of the question. In addition, Guild-covered workers with at least two years of service will receive lump-sum bonuses, starting at $1000 a year for three years and going up to $7,000 a year for three years, depending on seniority.