New Deal May Aid Globe, Guild As Talks Begin Again

Stock quotes in this article: NYT  

"They would value that initial proposal more than the 23 percent," Simonton said. "It gives them a chance to be more strategic in cost cuts going forward."

Globe management and Guild representatives began more negotiations Monday, one week after the union membership — made up of 700 editorial, advertising and business employees — narrowly rejected a new contract that would have instituted an 8.3 percent wage cut, created five-day unpaid furloughs, cut health care and pension benefits and eliminated the lifetime job guarantees.

The Times Co. imposed the 23 percent pay cut after the vote, saying it was needed to help reach $20 million in total annual concessions from Globe unions and avoid having to close the newspaper. The Guild then filed an unfair labor practice complaint with the National Labor Relations Board, vowing to fight the unilateral drop in pay.

But both sides now seem eager to settle the issue out of court. Two negotiation sessions this week went well into the night, with the second day of talks ending at daybreak Wednesday. The Guild also postponed a Tuesday meeting with the NLRB until Thursday.

The sides planned telephone conversations Wednesday and said face-to-face talks would resume Monday.

  • Loading Comments...
  •  

SHARE:

  • email
  • print
  • comment
  • digg
  • delicious
  • linkedin

Recent Comments





Connect with TheStreet

Dow Jones S&P 500 NASDAQ 10-Year Note
10,471.50 1,106.41 2,190.31 35.40
Oil *
71.66
UP
65.67
UP
4.06
DOWN
0.55
UP
0.58
10 Yr
3.54%
SPDR Gold
109.32
+0.63%
+0.37%
-0.03%
+1.67%
Data delayed 20 minutes

Brokerage Partners

TheStreet Premium Services

All Services