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After months of bitter struggle that included a threat to shut down The Boston Globe, the New York Times Company and the paper’s largest union reached a tentative contract settlement on Tuesday night, with employees agreeing to significant cuts in wages, benefits and job security.
The deal with the Boston Newspaper Guild, finalized around 11 p.m., includes a cut in weekly salary and a five-day unpaid furlough, for a total wage reduction of almost 8 percent for some 670 guild members plus reductions in retirement, health and other benefits. The package will save The Globe $10 million a year. In addition, the company won the elimination of lifetime job guarantees covering about 190 guild members.
“We like to say that dependability is more important than ability,” Bill Belichickism....
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