Would You Want Your Wages Cut by 23%? That's What the Globe Proposes for the Boston Newspaper Guild

In a big new twist, the Boston Globe is proposing a 23% wage cut for its employees to meet the New York Times Company's demands for financial concessions. 23 percent is a huge amount: it cuts a $50k salary down to $38.5, still livable but not quite so comfy. Is this what it'll take to keep a Boston paper owned by New York?