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NYSE Clerks Agree to Talk; Strike Ends

November 16, 1987|Associated Press

NEW YORK — A strike by 1,100 clerical workers at the New York Stock Exchange ended Friday after their union agreed to continue contract talks with the help of a federal mediator.

Supervisory personnel had taken over the jobs usually done by floor reporters, clerks, secretaries and maintenance workers, who began the strike Tuesday. Improvement in pensions was a key issue.

Patrick Hart, a mediator with the Federal Mediation and Conciliation Service, told a news conference that he met with representatives of the exchange and of Local 153 of the Office and Professional Employees International Union on Friday morning.

"They have agreed to accept a mediator's proposal to meet next Monday . . . with the return to work of striking employees this morning," he said.

He added that neither side agreed to binding arbitration, although the union said there would be no further job actions and the exchange agreed not to lock out employees even though no contract is in effect.

Both parties also agreed not to discuss the talks with reporters.

"I made this proposal in the interests of the national economy, the employers, the employees and the investing public," Hart said, who became involved in the labor dispute three days before the contract expired on Oct. 31.

NYSE officials said trading had proceeded smoothly despite the strike.

Richard Torrenzano, a vice president of the exchange, said the number of employees showing up for work had increased steadily since the strike began.

Michael Goodwin, the union's secretary-treasurer, has said the union is seeking a pension of half pay at age 65, while the exchange has offered to move retirement up to age 62 and improve early retirement incentives. Under the previous contract, he said, a worker earning $33,700 a year who retires at age 65 after 35 years of service would receive a pension of $11,700.

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