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'Globe,' Unions Reach Tentative Agreement
By JOHN P. CONNOLLY, The Bulletin
The New York Times Company, which owns The Boston Globe, has reached a tentative agreement with the Globe’s unions to keep the paper operating in the near future.
The agreement came shortly after the Times Company threatened to close the paper if it could not reach an agreement with the Newspaper Guild. The agreement will now go to the Guild members for a vote, a procedure that could take some time.
The Times Company asked for $20 million in cuts from its unions, and also sought to change stipulations awarding some employees lifetime job guarantees. The company asserted that the guarantees hamper efforts to restructure.
The details of the tentative deal will not be released until after the Guild has voted on it.
The Globe lost $50 million in 2008, and is expected to lose $85 million in 2009.
John P. Connolly can be reached at jconnolly@thebulletin.us
The agreement came shortly after the Times Company threatened to close the paper if it could not reach an agreement with the Newspaper Guild. The agreement will now go to the Guild members for a vote, a procedure that could take some time.
The Times Company asked for $20 million in cuts from its unions, and also sought to change stipulations awarding some employees lifetime job guarantees. The company asserted that the guarantees hamper efforts to restructure.
The details of the tentative deal will not be released until after the Guild has voted on it.
The Globe lost $50 million in 2008, and is expected to lose $85 million in 2009.
John P. Connolly can be reached at jconnolly@thebulletin.us
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