Wednesday, April 15, 2009

200 Globe managers won't get '09 bonuses

The Boston Globe said last night that it will eliminate bonuses this year for more than 200 Globe managers and executives, including publisher P. Steven Ainsley, as part of efforts to cut costs at the money-losing newspaper.

In addition, the newspaper said, it will rescind the 10 extra days off it had initially granted to nonunion management in exchange for a 5 percent pay cut. The pay cut will remain in place through December.

The reductions come as the Globe and its owner, the New York Times Co., seek $20 million of concessions from 13 unions under the threat of shuttering the newspaper. The unions have criticized the bonuses paid to managers early this year for their 2008 performance and called on managers to lead by example by taking their fair share of cuts.

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