Boston Newspaper Guild Accepts Cuts from New York Times Co.


New York Times Co. celebrates the Guild vote: "Oh, snap!"

New York Times Co. celebrates the Guild vote: "Oh, snap!"

The Boston Newspaper Guild overwhelmingly supported a new package of cuts totally $10 million last night.  The vote – 366 in favor and 179 against – gives the New York Times Co., the owners of the Boston Globe, the green light to proceed with an expected sale of the 137-year-old newspaper.  The cuts are deep and Guild members will have salaries slashed, benefits to health and retirement cut and be forced to take unpaid furloughs.  The vote also ended the lifetime job guarantees for 170 veteran employees.

The big question?  What’s next?  Does the New York Times Co. unload the Globe?  Will there be more lay-offs?  The newspaper is still on track to lose about $85 million this year.  So what is the strategic plan to get the newspaper back in the black?

All speculation at this point.  But you can read all versions about the vote and its ramifications at these locations (please feel free to add any links I missed):

Posted via email from HighTalk on Posterous

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