Last night the Boston Globe and its largest union reached agreement on a contract that was only slightly different from the contract the union rejected a couple of weeks ago. The New York Times got the $10 million cut from expenses that it said it needed. Instead of an 8% pay cut, they get a 5.9% cut, in exchange for deeper benefit cuts. The biggest benefit cut was the removal of lifetime employment guarantees for 176 people.
This was difficult, but the hardest part is left – keeping the paper alive.