All employees at the Boston Globe are being threatened with a 23% pay cut, which could begin as early as next week. The measure is the result of ongoing disagreement between union members and the paper's owner, The New York Times Company, over effective ways to cut back on spending.
The Boston Globe lost $50 million last year, and is projected to lose $85 million in 2009.
Bad times!
(taken from NYT article - link here)
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