Thursday, May 7, 2009

Agreement keeps Boston Globe alive, but what next?

While a tentative agreement between the owner of The Boston Globe and its largest employees union may keep the newspaper alive for now, the long-term future of the 137-year-old Globe is still uncertain.

The Globe reported on its Web site Wednesday that the proposal calls for employees in the Boston Newspaper Guild to take an 8.3 percent wage cut and a five-day unpaid furlough, for a total pay cut of roughly 10 percent. Other cutbacks include a freeze in pension contributions for many employees, an end to matching contributions to 401(k) accounts, and the elimination of lifetime job guarantees for 190 Guild employees.

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