Rumors resounded all day Friday, finally confirmed late: The New York Times Co. has threatened to shut the Boston Globe unless the newspaper's unions agree to $20 million in concessions, union leaders told the Globe.
"Executives from the Times Co. and Globe made the demands Thursday morning in an approximately 90- minute meeting with leaders of the newspaper's 13 unions, union officials said," the paper reported. "The possible concessions include pay cuts, the end of pension contributions by the company and the elimination of lifetime job guarantees now enjoyed by some veteran employees, said Daniel Totten, president of the Boston Newspaper Guild, the Globe's biggest union, which represents more than 700 editorial, advertising and business office employees."
Catherine Mathis, a Times Co. spokeswoman, declined to comment. Globe publisher P. Steven Ainsley also declined.
More from the story follows:
Continue to next page →