NYT Threatens to Shut Boston Globe
Unions given ultimatum over cutbacks
By Rob Quinn,  Newser Staff
Posted Apr 4, 2009 3:59 AM CDT
The Boston Globe newspaper building in Boston. The New York Times is threatening to shut the paper down unless unions agree to cuts.   (Getty Images)
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(Newser) – The New York Times has told the Boston Globe it will shutter the newspaper if unions don't swiftly agree to $20 million in concessions, the Boston Herald reports. The parent company told union leaders Thursday that the Globe is on course to lose $85 million this year unless serious cutbacks are made, and the Times can no longer afford to subsidize it.

Possible concessions at the struggling paper include pay cuts, an end to company pension contributions, and the elimination of lifetime job guarantees. The union chief—who warned the Globe before the meeting that 78 guild members had lost their jobs in the last few weeks alone—said he told management it was time to start culling from their own ranks.