BOSTON (AP) - The Boston Globe plans to eliminate bonuses for more than 200 managers and executives, including its publisher, as part of a cost-cutting effort at the struggling newspaper.
The move comes as the owner of the Globe _ The New York Times Co. _ is threatening to shut down the newspaper unless it gets $20 million in concessions from 13 unions.
In addition to eliminating 2009 bonuses, the Globe said it will also rescind the 10 extra days off it initially granted to nonunion management in exchange for a 5 percent pay cut. The pay cut will remain in place through December.
The unions had called on managers to lead by example by taking their share of cuts.
A Globe spokesman declined to disclose how much the company pays in bonuses.
Please read our comment policy before commenting.