The New York Times Company has threatened to shut the Boston Globe if employee unions don’t agree to broadscale cuts of pay and conditions.
The cuts, that will save the struggling paper $20 million a year, includes pay cuts, the end of pension contributions by the company and the elimination of lifetime job guarantees now enjoyed by some veteran employees.
To complicate matters, the Globe’s 700 employees are represented by 13 individual unions, and the Times Company will need to negotiate with each one individually. It’s not clear on whether the threats to close the paper would be followed through if some unions refused to accept cuts, but others did.
E&P has more.
