Will lifetime employment guarantees cost the Boston Globe its life?
The New York Times, which owns the paper, and unions were negotiating late into Sunday night to come up with $20 million in cuts that would keep the paper open.
(UPDATE: As of Monday morning, there was no agreement between the sides on the cuts, just “threats of a shutdown and allegations of bullying,” according to the Associated Press. The negotiations were ongoing.)
According to the Globe’s website, management issued an ultimatum late Sunday night for the paper’s four unions to give up a lifetime employment guarantee for more than 400 employees.
The paper’s management said if unions didn’t move to abolish the job guarantees, the Times would file with the state to shut the paper down in 60 days.
The Newspaper Guild, the Globe’s largest union, said in a statement Sunday that it has proposed its $10 million in cuts, representing ”tremendous sacrifices, across virtually all categories of compensation and benefits.”
The unions had the deadline for talks extended Friday because the talks were showing progress towards the $20 million number. The Globe is on pace to lose $85 million this year.
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