Boston_Globe_Header.gifUnion members at the The Boston Globe, which is set to lose $85 million this year, are mad because its parent company — the New York Times Co. — wants huge cuts to save money.

“The company’s demands are outrageous,” Daniel Totten, the union’s president told the Times. “We’re willing to consider some concessions but not the draconian amount they put forth.”

What’s a paper to do? Raise prices, of course.

Starting on May 4, the Globe will now cost $1 on Boston newsstands and $1.50 outside the city limits. This hike comes on the heels of a $.25 increase in February. The NYT Co. hopes it will help save $20 million.

(Elsewhere, Portfolio‘s Jeff Bercovici has some excellent analysis of the Globe‘s financial troubles.)