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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Search Search: Boston Globe union votes on wage cuts AFP - Tuesday, June 9 BOSTON, Massachusetts (AFP) - - Members of the largest union at the Boston Globe were voting on Monday on concessions its owner, The New York Times Co., says are necessary to keep the ailing newspaper alive. ADVERTISEMENT The Times Co. reached agreement with six of the Globe's seven unions last month on 10 million dollars worth of wage and benefit cuts but failed to hammer out a deal with the largest one, the Boston Newspaper Guild. Instead, the Newspaper Guild, which represents 600 editorial, advertising, and business office workers, promised to bring the company's final offer to a vote and did not recommend for or against it. The New York Times has said it needs a total of 20 million dollars in savings from the unions or it will shut down New England's largest paper. Monday's ratification vote, the most contentious, decides whether members will accept a contract that reduces wages and benefits by 10 million dollars and eliminates lifetime job guarantees for some veteran employees. If the union rejects the offer, Globe management plans to impose a 23 percent wage cut for Guild employees across the board. Guild president Daniel Totten told the Globe he cannot predict the outcome of the vote. "Both these proposals are horrendous," Totten told the newspaper. "We're in a situation that began with threats and continues with threats." The final tally of the union vote is expected later Monday and could come as late as midnight (0400 GMT Tuesday). The New York Times Co. purchased the 137-year-old Globe for 1.1 billion dollars in 1993. Like other US newspapers, the Globe has been grappling with a steep drop in print advertising revenue, steadily declining circulation and the migration of readers to free news online. The Globe is forecast to lose 85 million dollars this year, according to the Times Co., which has been struggling with escalating losses of its own and a heavy debt burden. The Times Co. recently completed a sale-leaseback deal for part of its Manhattan headquarters in a move aimed at raising cash to pay down its debt and received a 250-million-dollar loan from Mexican billionaire Carlos Slim. The Times is also seeking a buyer for its 17.75 percent stake in New England Sports Ventures, which includes the Boston Red Sox and their iconic stadium, Fenway Park. With a weekday circulation of around 300,000, the Boston Globe is the 17th largest newspaper in the United States. It began publishing in 1872. Email Story IM Story Printable View Blog This Sign in to recommend this article » 0 users recommend Related Articles: Technology Apple unveils new iPhone without Steve JobsAFP - Tuesday, June 9 Most firms unaware of Web domain changes: surveyReuters - Tuesday, June 9 Boston Globe union votes on wage cutsAFP - Tuesday, June 9 Newspaper industry struggling under twin 'storms'AFP - Tuesday, June 9 Tech cos enlist Democrat to blast Obama tax planReuters - Tuesday, June 9 Enlarge Photo A Boston Globe newpaper sits inside a vendor box in downtown Boston, Massachusetts, in May 2009. Members of the largest union at the Boston Globe were voting on Monday on concessions its owner, The New York Times Co., says are necessary to keep the ailing newspaper alive. Most Popular – Technology Viewed Carradine may have died from sex act: Thai police President Obama's French food tested by 'taster' Hopes worst of crisis over fuel market rally: bank body Life, health insurers invest big in tobacco Susan Boyle out of London clinic: brother View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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