Boston Globe, union reach pay cut deal

0 Comments | AFP, June, 2009

WASHINGTON (AFP) — The Boston Globe and its largest union reached a tentative agreement overnight on 10 million dollars in wage and benefit cuts aimed at saving the 137-year-old newspaper.

The nearly 700 members of the union, the Boston Newspaper Guild, will vote on the proposed package of cuts on July 20, management and the Guild said in separate statements.

The agreement, which comes after three months of difficult talks, calls for a pay cut of 5.9 percent, freezing the pension plan and elimination of lifetime job guarantees for some 170 veteran employees, the Globe reported.

The Globe's owner, the New York Times Co., reached agreement with six of the newspaper's seven unions last month on 10 million dollars worth of cuts and was seeking another 10 million...