Fate of Boston Globe up in the air

Media news from south of the border just gets grimmer and grimmer by the day. A day after rejecting a package of cuts to wages and benefits, Boston Globe employees wait for the axe to fall. Owner New York Times is promising a 23 per cent wage reduction across the board. Among the benefits the union rejected was a lifetime job guarantee (who in this economic environment has a lifetime job guarantee?) Anyway, the matter is likely to go to the courts. Either way, things aren’t going to be good for the staff; the Times estimates the Globe loses $85 million a year.

Bloomberg, June 10 2009

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