New York Times employees walk out amid union negotiations

Yahoo Finance Live anchors discuss New York Times workers staging a 24-hour walkout as labor negotiations have stalled.

Video transcript

BRAD SMITH: Hundreds of journalists and other employees at the New York Times began a 24-hour walkout today after an agreement was not reached for a new union contract by the deadline. This is the first strike at the company since the 1970s. This is an effort to unionize.

And not just that we've seen in this broader, kind of sweeping unionization effort at Starbucks, at Amazon warehouses, but then additionally, for some print publications as well, as they've been looking for better benefits and more stability at a time where their own publishing houses as well have faced a lot of challenges, too.

JULIE HYMAN: So this is about more pay. That is mostly what this is about. And the negotiations have been going on for something like 18 months. It's been a long ongoing negotiation. And so after this is when the union has made the decision, the guild has made the decision to do this walkout. So the paper's being put out digitally and in paper form by non-union employees today. So the guild asked people who read the Times to not read it today, which I didn't see until I'd already done Wordle.

[BUZZER]

BRIAN SOZZI: No, of course. "New York Times," a public company with a ticker on Yahoo Finance.