Boston Globe Talks Continue, NY Times Union Takes Pay Cut

After threatening to shut down its plant if unions did not make concessions, agreements have been made between Boston Globe management (the paper is owned by the NY Times Co.) and three of four unions, thus allowing the Globe to survive a little longer. The Boston Newspaper Guild is the lone holdout and the Globe reports, "The possibility of a shutdown remains if the company can't reach agreement with the Guild over $10 million in cost reductions, as well as contract changes, particularly the elimination of lifetime job guarantees enjoyed by about 190 Guild employees." However, spokesperson is optimistic and says those savings could be achieved in other ways. Over in NYC, the NY Times' Newspaper Guild members agreed to take a 5% pay cut in order to avoid laying off dozens of people; the pay cuts will be restored if ad revenues bounce back.