The largest union at The Boston Globe has reached a tentative agreement with The New York Times Co., both sides announced about 11:30 p.m. Tuesday.
The union says the agreement reduces its members’ pay cut from 8.3 percent to 5.94 percent and gives up lifetime job guarantees for some members.
Management has agreed to compensate employees with a lump sum payment for the difficulties they faced from a 23 percent wage cut imposed earlier this month.
The Boston Newspaper Guild released this statement:
The Globe said in its statement:
“The tentative agreement enables the Globe to save $10 million and achieve the same type of modification to the job guarantee provision as was agreed to by other Globe unions. At the same time, it provides Guild members with smaller wage reductions than those in the previous proposal. Other parts of the contract will be modified to increase savings that offset the lower wage reduction.
” ‘Our aim throughout our negotiations has been to achieve the necessary savings in a way that causes the least hardship for our employees. We’re very pleased to have reached an agreement that accomplishes those goals,’ said Steve Ainsley, publisher, The Boston Globe.
“The Guild is recommending the tentative agreement to its membership. A vote is scheduled for July 20. The existing 23 percent wage reduction remains in effect until the Guild vote. If the proposed contract is ratified, the new terms will apply going forward. To ease short-term financial difficulties caused by the 23% wage cut, employees will receive a lump sum payment representing partial compensation for wages lost up to the ratification date. In turn, the Globe will take an equivalent one-time deduction from payments due to the Guild’s health fund, thereby realizing the savings from the wage reduction. Further details of the tentative agreement are being withheld until the Guild‘s review of the proposal with its members”