The New York Times Company had originally intended to sell the Boston Globe newspaper company because of its financial struggles, but now the situation has turned around for The Boston Globe. However, Times Co. still plans to sell the newspaper, despite the fact that it could continue running the newspaper.
According to Times Co. executives, the process of selecting a buyer will not only depend on price, but also on how well the executives think that the new owner would be able to run the newspaper. Times Co. broke the news to several hundred Globe employees during two close hour-long sessions.
This …read more

Because of the economic crisis, many companies find that cutting operating costs is the only feasible way to stay profitable. When the New York Times Co. decided to lower its operating costs, the Boston Globe, which it owns, was forced to either accept pay cuts or risk the discontinuation of the newspaper.
 
Now, the Boston Globe’s largest union, which just yesterday voted against a significant 23 percent wage and benefit cut, will be fighting back against the cuts. The union, Boston Newspapers Guild, filed a complaint with federal officials and has encouraged the Globe and the New York Times to continue …read more

Faced with a choice between a potential shutdown of the delivery wing of the Boston Globe and $2.5 million in wage and benefit cuts, the drivers’ union has chosen the latter. According to the Boston Globe’s owner, the New York Times Co., the wage and benefit cuts are necessary for the continued operation of the paper.
The vote to ratify the new concessions was close: 89 voted in favor while 69 voted against it. This development is especially painful for the union, considering that just six months ago it accepted another $2.5 million worth of wage and benefit cuts. According to …read more