The Forbes editorial staff, represented by The Forbes Union, are walking out on the job Tuesday — the same day the financial publication plans on releasing its trademark “30 Under 30” lists. The walkout comes amid ongoing negotiations between the union and Forbes management over salaries and raises.
Founded in 2021, The Forbes Union represents about 100 writers, editors, and other editorial staffers at the outlet. Tuesday’s walkout was first reported by Fox News.
The Union is currently looking for a $75,000 wage floor, 8% annual raises, and 15% raises, at minimum, for promotions; they also want bonus pay for working weekends and overtime. Forbes management, on the other hand, has proposed $60,000 minimum salaries, a 1% annual raise, and a 5% minimum increase for promotions.
“[Forbes] CEO Mike Federle said at a recent town hall that management is eager to get a contract but that it seems like a very long way off. That’s because of his actions and that of management,” Andrea Murphy, Forbes’ unit chair and statistics editor, told Fox News. “We have been and will continue to be ready to get this contract done, including pay that recognizes the value we bring to Forbes.”
Murphy added Forbes’ $60,000 minimum salary proposal isn’t good enough. “That is just not a fair salary for the amount of work that people are doing.”
The walkout was scheduled for the same day Forbes planned on releasing 20 “30 Under 30” lists, its annual lists highlighting young movers and shakers in a variety of fields.
A Forbes spokesperson said the company was “working diligently with the NewsGuild of NY” to reach a deal.
“While we respect their right to stage a walk out, 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,” the spokesperson said. “Forbes continues to serve its audiences and publish its content across platforms.”
The spokesperson added: “It’s worth noting that the company has continued to make increases in the salaries of Guild bargaining unit members since 2021 when the NewsGuild of NY was certified as bargaining representative. In fact, 58% of our employees in the Guild unit received increases in 2024. Many companies freeze increases for employees until an initial labor agreement is reached.”
The Forbes Union has been working to get a new deal for three years with the help of The NewsGuild of New York; the NewsGuild on Tuesday said Forbes employees have been “met with disrespect and illegal, union-busting tactics” by the magazine’s management during that time.
