NY Times Co. demands heavy concessions under threat to shut Boston Globe down

April 4, 2009

(ChattahBox) — The New York Times Co. has threatened to close the Boston Globe if it can’t get the paper’s unions to agree to $20 million in concessions, the Globe reported on its Web site Friday.  The Globe quoted union officials last night as saying executives from the Times Co. and Globe made the demands Thursday morning in an approximately 90 minute meeting with leaders of the newspaper’s 13 unions, union officials said. The possible concessions include pay cuts, the end of pension contributions by the company and the elimination of lifetime job guarantees now enjoyed by some veteran employees. 

Reportedly executives told the union leaders that the Boston paper will lose $85 million this year without serious cutbacks. An employee briefed on the discussions was quoted as saying the Globe lost $50 million last year.  Several major newspaper companies have filed for bankruptcy in recent months, and several have threatened to shut down operations unless they got major concessions from workers.


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