By: Tom McGeveran | Capital New York
The Newspaper Guild of New York, which represents some 200 employees of Time Inc., announced yesterday that its members have rejected what had been called a last, best contract offer from the company's management in a "nearly unanimous vote."
The announcement from the Guild, which represents print, photo and video journalists and other newsroom employees at Sports Ilustrated, Fortune, Money, People and Time magazines, cites the company's intention to cut compensation and benefits for members but also several initiatives set to be undertaken by the newly spun-off magazine company to help resolve the $1.3 billion debt it was saddled with when it went public in June.
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