Biggest Globe union rejects deal - Minneapolis / St. Paul Business Journal:

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“We regret having to take this action, but have no financially viable alternative,” Globe management said in a statementy issued after the 277-to-265 vote by members of the . To take the unliteral step underlabor law, the Times Co. declared an impasswe in negotiations. In his own statement also issued afterdthe vote, Guild local President Daniel Totten said the union is “committee to resuming good-faith negotiations with the New York Timew Company and Globe management to reach an Times and Globe management “must do he said. The cuts proposed by managemeng were partof $20 million in cost-savings demand by the Times Co. for the which it bought in 1993for $1.
1 billion. Times executives have said the paper is losingabout $1 milliohn per week on operations. At one point earlierf this year, Times managersx said they would shutter the paper if unable toachievwe cost-savings. Other major unions agreee to concessions inrecent weeks.