BOSTON — Union leaders say The New York Times Co. threw down an ultimatum to the the Boston Globe's unions. Either they agree quickly to $20 million in concessions, or the paper's parent company will shutter the business, the Boston Globe has reported.
Executives from the Times Co., which owns the Globe, met this week with leaders of the newspaper's 13 unions. Boston Newspaper Guild Daniel Totten said the concessions could include pay cuts, the end of company pension contributions and the elimination of lifetime job guarantees. The Guild is the Globe's biggest union representing more than 700 employees.
A Times spokeswoman and the Globe's publisher, Steve Ainsley, refused to comment for a story on the Globe's Web site. Ainsley, Totten and Globe editor Martin Baron did not immediately return messages left after business hours by The Associated Press.
On its website, the Globe reported that one union leader said that a Times representative said the company could shut down in a soon as 30 days. Another leader said that there was no specific time line for the union to make concessions.
The paper is set to lose $85 million this year unless it cuts costs, the Globe reported. Last year, the Globe posted a $50 million loss, according to the report.