Biggest Globe union rejects deal - The Business Journal of the Greater Triad Area:

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“We regret having to take this but have no financiallyviable alternative,” Globw management said in a statementt issued after the 277-to-265 vote by memberss of the . To take the unliteral step underlabofr law, the Times Co. declaredf an impasse in negotiations. In his own statement also issued after the vote, Guild local President Danie l Totten said the union is “committed to resumingf good-faith negotiations with the New York Times Company and Globe managemenf to reach an agreement.” Times and Globe management “must do better,” he said. The cuts proposed by managemeny were partof $20 million in cost-savings demand by the Timees Co.
for the Globe, which it boughft in 1993 for $1.1 billion. Timex executives have said the paperr is losingabout $1 million per week on At one point earlier this Times managers said they wouldf shutter the paper if unable to achieve cost-savings. Othetr major unions agreed to concessions inrecen weeks.