The Globe and Mail has posted a story on its Web site saying it will resume contract discussions with approximately 480 employees after they rejected a "revised proposal" on Saturday (June 27).

Negotiations will resume on Tuesday (June 30), which is the same day the four-year pact expires. The five-year contract offer reportedly includes zero percent in the first two years, followed by increases of 1.5 percent, two percent, and 2.5 percent over the following three years.

Globe and Mail editorial employees are among the highest paid media workers in the country. 

According to a copy of the Globe and Mail editorial contract on the CEP Local 87-M Web site, a Report on Business news editor earns $1,643.01 per week. A senior editor or a national correspondent with three years under his or her belt makes $1,619.22 per week.

A copy editor with six years tenure collects $1,599.26 per week. Reporters earn $1,559.41 per week after six years.

The Globe and Mail is owned by CTVglobemedia, which is a privately owned corporation. The Thomson family is the largest shareholder with 40 percent. The other owners are Torstar Corp., the Ontario Teachers Pension Plan, and B.C.E.