Boston Globe union votes against pay cuts
The bluff has been called -- and it is a bluff. The Boston Globe Newspaper Guild rejected the publisher's demand for $10 million in wage and benefit givebacks.
I'm gonna go out on a limb here -- about 6 inches from the trunk on a branch a foot thick -- and predict that the New York Times Co. won't follow through on its "threat" to shut down a company with $400 million in revenue.
UPDATE: What a shock.
"Because we have achieved the $20 million in savings we needed, we do not foresee closure at this time and are focused on executing the Globe's turnaround plan," says a Times Co. statement.
Comments
Let's get with the program Jay... No one in this day and age really deserves a 'lifetime job guarantee'
Posted by: Opie | June 8, 2009 11:29 PM
Opie my comment makes no evaluation of the stances of either side, aside from Globe management's threat. I don't think anyone deserves lifetime job guarantees either.
Posted by: Jay | June 9, 2009 9:35 AM