NUJ members at Thomson Reuters in London have called off the planned 48 hours of industrial action which was due to start tomorrow following an improved pay offer.
In a joint statement the union and management said: "We are pleased to announce that London members of the NUJ today voted to accept an enhanced pay deal and call off industrial action scheduled for tomorrow and Friday.
"The agreed 3% increase includes a minimum pay raise of 2.5% and an additional .5% available for merit raises. The deal was reached after a number of days of constructive negotiations between the NUJ and Thomson Reuters to resolve this dispute."
Michelle Stanistreet, NUJ general secretary said: “We are pleased management have backtracked on the derisory pay offer. The improved offer shows just how valuable it is to have the backing of the NUJ. This deal sets the tone for future negotiations between the chapel and management and I hope the pay deal sends a strong message to other companies in the media industry."
Helen Long, NUJ chapel rep at Thomson Reuters, added: “It seemed inconsistent to us that, while claiming to be the best-funded news organisation in the world, and the one with the best business model, Thomson Reuters was only prepared to offer one of the lowest pay rises in the industry.”