Boston Globe and union reach tentative agreement

According to a report by the AFP, the largest union at the Boston Globe has reached a tentative agreement with owner New York Times Co. on the wage and benefit cuts proposed to save the 137 year old newspaper. Last month Times Co. reached an agreement with six of the newspaper’s seven unions on wage cuts totaling $10 million, and another $10 million in other concessions. However, the members of the Boston Newspaper Guild rejected the proposal, which provoked management to announce a 23 per cent pay cut for all members.
 
After both sides continued talks for three more months, the current proposal that has been made includes a 5.9 per cent pay cut (down from the originally proposed 8.3 per cent), freezing the pension plan, and the elimination of lifetime job guarantees for approximately 170 employees.
 
The Times Co., who is reported to be looking to sell the Globe, wants to reach an agreement that would make the newspaper more attractive to potential buyers.
 
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