By: E&P Staff
Members of the Chicago Newspaper Guild voted 52-9 Tuesday night to ratify a 9% cut in their wages at the Chicago Sun-Times, the newspaper reported.
Included in the package of concessions are unpaid furlough days and a deferral of pension contributions.
The paper’s parent, Sun-Times Media Group (STMG), is in Chapter 11 bankruptcy and is seeking a buyer. If the company is sold, the concessions would be nullified, the paper reported.
Earlier this week, a Chicago investment bank CEO said he was assembling a group to bid on STMG.