My worst nightmare is almost coming true.
This morning in my email box, I received my normal Boston Globe Daily Headlines, which I subscribe to. Usually I'm in such a rush I just delete it and go to boston.com later to get the scoop.
Well for some reason I decided to open it today...and that's when I read "Times Co. threatens to shut Globe; seeks $20m in cuts from unions."
WHAT?!!?
The demands went down Thursday morning in a 90-minute meeting (it only took 90 minutes to really talk about this?) that included pay cuts, the end of pension contributions, and the elimination of lifetime job guarantees (I wasn't even aware of that).
Last week the Globe finished cutting the equivalent of 50 full-time jobs (so I guess it's not 50 full-time jobs?) If more serious cutbacks don't happen, the paper could lose $89 million this year. Last year it lost $50 million (I thought it was reported that the Globe was losing $100 million a week, see below post).
The Boston Globe is the 14th largest paper in the country and region's leader in circulation.
The deadline to all of this??? The Times is giving the union 30 days to make all concessions and if not, well, I don't even want to think about it.
If the Globe closes that leaves Boston with the Herald, a tabloid newspaper. Of course there's also The Patriot Ledger in Quincy, The Cape Cod Times, The Sun Chronicle in Attleboro, The Standard Times in New Bedford and a bunch of weeklies in neighboring cities and towns.
I really thought it would be the Herald first.
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