'Chicago Sun-Times' Guild OKs 9% Wage Cut

Posted Wednesday, May 6, 2009 12:00 am

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.

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'Chicago Sun-Times' Guild OKs 9% Wage Cut

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