Yesterday, the guild overwhelmingly approved cuts negotiated last month, in a 366 to 179 vote.
According to the Globe, the new contract includes pay cuts, furloughs and unpaid vacations, which will reduce earnings by about 9 percent. There are also deep cuts in health care and retirement benefits, a pension freeze and the “elimination of lifetime job guarantees for about 170 veteran employees.”
The guild, which represents nearly 700 editorial, advertising, and business office workers at the Globe, rejected the first concessions proposed by the Times Co. by only 12 votes in early June. As a result, the paper’s owner implemented a 23 percent pay cut for guild members. Those employees that have been dealing with the pay cut since last month will be reimbursed “for most of the difference between the lower and higher pay cuts,” the Globe reported. The company will be paying for this difference by “making a one-time cut in its union healthcare contributions,” the paper added.
Meanwhile, The New York Times reports that the approval of these concessions may lead to layoffs as the Times Co. prepares to sell the paper.