Results tagged “newyorktimescompany”

So, the Boston Newspaper Guild voted to reject the New York Times Company's proposed contract that would cut wages and benefits by $10 million. And, in response, the New York Times Co. instituted a unilateral 23% pay cut effective Sunday for all Globe employees covered under the Boston Newspaper Guild's contract. What next?

Is the Globe a walking corpse, a lumbering zombie intent on devouring its readers' fragile brains? Or is it more like a vampire with a soul, the undead that still has some good left in it?

At 3:00 this morning, the Boston Newspaper Guild and the New York Times Company reportedly reached a deal that would keep the Boston Globe in business. Salary cuts, unpaid leave, and the demise of lifetime jobs for nearly 200 Guild members helped the Globe save the $20 million requested by the NYT. More details will be available after the Guild's leaders and members meet, reportedly on Thursday, to vote on the agreement.

The Globe mailers union conceded lifetime job agreements this morning, but the New York Times Company has rejected concessions (including pay cuts, increase in early retirement age, and reduction in pension and 401k contributions) from the Boston Newspaper Guild and the paper's fate remains uncertain. NYTCo could file a motion as early as today to notify the Globe to shut down in 60 days. Guild members have said negotiations are done for the day but will resume soon.

To be somewhat more accurate, The Atlantic says "the odds that The Times will cease to exist entirely come May are relatively slim." But slim is still something! Boston sports fans hung onto slimmer hopes for years! Yet The Atlantic specifically proposes that the NYT unload its Boston holdings in order to make ends meet: