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Boston Globe, Guild reach agreement

ASSOCIATED PRESS The Boston Globe, bought for $1.1 billion in 1994 by the New York Times, is losing more than $1 million a week. The Boston Newspaper Guild narrowly voted Monday against $10 million in wage and benefits concessions.ASSOCIATED PRESS The Boston Globe, bought for $1.1 billion in 1994 by the New York Times, is losing more than $1 million a week. The Boston Newspaper Guild narrowly voted Monday against $10 million in wage and benefits concessions.

By

The Washington Times

Thursday, June 25, 2009

BOSTON (AP) — The Boston Globe has reached a tentative agreement with its largest union.

The Globe and the Boston Newspaper Guild issued e-mail statements late Tuesday announcing the deal. Guild members are set to vote on the agreement July 20.

Under the agreement, the Globe will save $10 million through salary and benefit reductions. The agreement includes a salary reduction of just less than 6 percent and changes the language in contracts regarding job security.

The 23 percent wage cut will remain in place until the Guild votes in July. In the meantime, employees will receive a lump sum payment to partially compensate for wages lost.

Guild President Dan Totten said further details would be available at a union meeting Wednesday.

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