UPDATE: Biggest Union at ‘Boston Globe’ Agrees to Big Cuts — But NYT Co. Issues New Threat

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The Boston Globe’s largest union says it has proposed more than the $10 million in cuts sought by its owner to keep the newspaper running.

The New York Times Co. last month threatened to close the 137-year-old Globe unless its unions agreed to $20 million in labor concessions. The Globe’s largest union, the Boston Newspaper Guild, was asked to make $10 million in cuts.

In a statement released two hours before a midnight deadline Sunday, the Guild says its proposal calls for “tremendous sacrifices, across virtually all categories of compensation and benefits.”

It’s unclear whether the Globe’s other unions have made proposals for the remaining $10 million in cuts.

UPDATE. Just before midnight the Boston Globe reported:

“With a midnight deadline approaching, Boston Globe management issued an ultimatum to its four major unions: agree to major financial and contract concessions, including the abolition of lifetime job guarantees for some workers, or its owner, the New York Times Co., would file a plant closing notice with the state.

“The notice, required under federal law, would allow the Times Co. to carry out its threat to shutter the 137-year-old newspaper in 60 days.

??’We have provided our unions with a copy of a notice that we are prepared to file tomorrow if we are unable to reach an agreement by the midnight deadline,?’ Globe spokesman Robert Powers said. ‘This notice is required under the Workers Adjustment and Retraining Notification Act, which requires 60 days advance notice before the closure of a business. Filing the WARN notice is a difficult step that we would like to avoid but, unfortunately, given the state of the negotiations, it is one we must be prepared to take if negotiations are not successful.’??

UPDATE Monday:

Talks were extended past midnight. Progress, as a second big union says it has met concession goals. But mad about latest 60-day shutdown notice. Would be shocked if no agreement, though.

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