Times Co. Gives Globe Weekend to OK $20M Cuts

The Boston Globe will live to print another edition, now that the New York Times Company has extended its deadline to midnight tomorrow, the Globe reports. Marathon negotiations continued after last night’s deadline, when the Times Co. granted the eleventh-hour reprieve for the paper’s unions to approve $20 million in concessions. But an accounting error has further soured employee morale.

Management’s inclusion of 80 former employees in its calculus of potential concessions caused a $4.5 million blunder, prompting union members to cry foul in radio ads. “Everybody’s so suspicious of the Times,” a Globe source told cross-town rival the Boston Herald. “We can’t figure out what the endgame is.” But the gaffe has united employees "as we absorb this shocking development," said one Globe reporter.
(More Boston Globe stories.)