Earlier this year, the NY Times asked its union to take 5% pay cuts, to help stanch its financial bleeding (a $74 million 1Q loss). Now the Post reports though the Times had "a surprise profit in the second quarter" (thanks to cost-cutting), it will "launch another round of employee buyouts to further trim costs." Management met with the NY Newspaper Guild, which also suggested "a four-day work week, being more flexible with comp time and reducing paper use in the building." more ›

The New York Times thinks so; the company's own payment rules bar execs from getting over $3 million in bonuses and 400,000 stock options. Yet publisher Arthur Sulzberger, Jr. and CEO Janet Robinson have both been paid under a plan that allows for $3.5 million in bonuses and over half a million stock options. Maybe that seems a tad excessive, but it's been a stressful year for the Times execs, what with all the staff cuts and ad losses they've sustained, so leave Pinch alone! more ›

After the Boston Globe's largest union rejected a contract on Monday, the Globe's owner, the New York Times Co., is now seeking bids for the newspaper. According to the Globe, the Times Co. was interested in getting bids no matter how the Guild, which represents "nearly 700 editorial, advertising, and business office staff," voted, but a potential bidder said, "That doesn't mean they have said they are going to sell it. They've just said they are willing to entertain bids. But it sure indicates an interest." In the meantime, because the Guild fell short of voting for the contract with concessions, the Times Co. will save $10 million by imposing a 23% pay cut. Three other unions for the mailers, the pressmen, and the delivery truck drivers had agreed to concessions. The Times Co. has projected it will lose $85 million with the Globe without cost savings. more ›