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Wednesday, March 14, 2012
Janet's Package: Not $4.5 Million, Not $15 Million, Not $21 Million. Now it's More Than $23 Million!!
Janet Robinson, the New York Times Co. chief executive officer who was pushed out in December, received an exit package, including stock options and retirement benefits, of more than $23 million dollars.
The New York Times’ corporate media reporter, Amy Chozick, reports that Ms. Robinson’s total 2011 compensation, now estimated at $24 Million dollars, has been cited in mailings by the Newspaper Guild of New York, which represents many newsroom employees of The New York Times.
The Guild has protested the company’s proposals to cut benefits and pensions made during labor negotiations for a new contract. Members of the Newspaper Guild gathered outside the office's Page One meeting room for ten minutes in a quiet display of dissent on Wednesday afternoon. See video here.
The protest was to show what members described as "our common dismay over contract negotiations in which management seems determined to seriously compromise our financial welfare, our access to health care and our security in retirement." The proposed cuts come at the same time former Times CEO, Janet Robinson, received a termination package worth $24 million dollars.