Times Co. Gives Globe Weekend to OK $20M Cuts

Two more still need to settle differences or Boston paper will shutter

(NEWSER) - Under threat of closure from the New York Times Co., six of the Boston Globe's seven unions have hammered out tentative deals with management, agreeing to millions in concessions, reports the Globe. But the newspaper's largest union, the Boston Newspaper Guild, is taking a break from negotiations following what the Globe terms a "marathon bargaining session" which resulted in "substantial progress." More»

Paper likely to remain in business as employees take major cuts

(NEWSER) - The Boston Globe and its largest union struck a tentative deal early this morning that will likely keep the newspaper's owner, the New York Times Company, from shutting down the title. The union representing more than 600 employees in the editorial and advertising divisions was the last holdout in negotiations at the struggling paper, which is expected to lose $85 million this year. More»

Management, unions sit down

(NEWSER) - Unionized Boston Globe employees say they’re willing to make sacrifices to save their foundering newspaper—but only if executives and managers do the same, the Globe reports. “If management is willing to lead us, to take pay cuts and concessions, I'm sure the union would be willing,” a mailer says. The New York Times Co. has threatened to close the Globe unless its unions make $20 million in concessions. More»

Boston paper's finances have 'significantly improved'

(NEWSER) - The New York Times Company has decided not to sell the Boston Globe after all, its chairman told workers in a late-afternoon email today, saying that the financial picture has “significantly improved” for the 137-year-old newspaper in recent months after various cost-cutting and revenue-boosting moves. Two groups did bid after the Globe went on the market in June, but no deal was reached. More»

(NEWSER) - The Boston Globe's biggest union has ended a four-month battle with the New York Times company and voted to accept $10 million in pay and benefit cuts, the Boston Herald reports. Union members—who have been living with a 23% pay cut since rejecting an 8.3% decrease last month—approved a 5.9% wage slice by a wide margin. The deal also includes 8 unpaid work days, a pension freeze and no health insurance for retirees. More»