Boston Globe Union Approves Wage Cuts

The Boston Globe's largest union on Monday approved a package of wage and benefits cuts, ending a battle that began with New York Times Co.'s threat to shut down the newspaper and removing a significant obstacle to Times Co.'s efforts to sell it. The labor contract, ratified by a vote of 366 to 179, will save $10 million a year at the Globe, New England's largest daily. Under its terms, the nearly 700 members of the Boston Newspaper Guild will accept a 5.94% pay cut along with a number of other concessions, including unpaid furloughs, a pension freeze and the elimination of job guarantees for many members.