Last Union At Boston Globe Reaches Deal

The largest union at the Boston Globe and its owner, The New York Times Co., have finally reached a tentative agreement after more than a week of intense negotiations.

The deal saves The Times Co. $10 million, but with a smaller wage reduction and larger benefit cuts than the previous proposal that was voted down on June 8. It eliminates lifetime job guarantees, which should make the paper more attractive to buyers.

"Our aim throughout our negotiations has been to achieve the necessary savings in a way that causes the least hardship for our employees," Globe Publisher Steve Ainsley said. "We're very pleased to have reached an agreement that accomplishes those goals."

Union members believe this deal will be endorsed by members this time.

When the Guild voted down the previous deal, the company imposed a 23 percent wage cut, which stays in effect at least until members vote on the new contract on July 20.

The Associated Press contributed to this report.