New York Times threatens to shut Boston Globe
BOSTON (Reuters) - The New York Times Co has threatened to shut The Boston Globe unless the newspaper's unions agree to $20 million in concessions, The Boston Globe reported, quoting union leaders.
The union officials said executives from the Times and the Globe made the demands on Thursday morning in a meeting with leaders of the newspaper's 13 unions, the Globe reported.
"Management told union leaders Thursday that the Globe will lose $85 million in 2009, unless serious cutbacks are made, according to a Globe employee briefed on the discussions," the Globe report said. That compares with an estimated $50 million loss last year, the newspaper quoted the employee as saying.
(Reporting by Jason Szep)
http://www.reuters.com/article/businessNews/idUSTRE53302O20090404?feedType=RSS&feedName=businessNews&rpc=23&sp=true
The union officials said executives from the Times and the Globe made the demands on Thursday morning in a meeting with leaders of the newspaper's 13 unions, the Globe reported.
"Management told union leaders Thursday that the Globe will lose $85 million in 2009, unless serious cutbacks are made, according to a Globe employee briefed on the discussions," the Globe report said. That compares with an estimated $50 million loss last year, the newspaper quoted the employee as saying.
(Reporting by Jason Szep)
http://www.reuters.com/article/businessNews/idUSTRE53302O20090404?feedType=RSS&feedName=businessNews&rpc=23&sp=true
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