The Boston Globe and its largest union reached a tentative agreement last night on $10 million in wage and benefit cuts, following three months of bitter labor talks that threatened to close the 137-year-old paper.
The deal - which, if ratified, could make the paper more attractive for buyers - differs in only a few areas from the package that union members voted down on June 8.
It provides a smaller pay cut - 5.9 percent - in exchange for deeper benefit reductions. But the main concessions originally demanded by The New York Times Co., the Globe’s owner, remain in place: $10 million in total savings, elimination of lifetime job guarantees for about 170 veteran Boston Newspaper Guild employees, and freezing the pension plan.
“Our aim throughout our negotiations has been to achieve the necessary savings in a way that causes the least hardship for our employees,’’ said Globe publisher P. Steven Ainsley in a statement. “We’re very pleased to have reached an agreement that accomplishes those goals.’’
Said union president Daniel Totten: “It’s been an exhausting process and a very difficult process for the members.’’
The agreement still needs to be approved by nearly 700 editorial, advertising, and business office employees. A vote has been set for July 20, and approval seems probable because, unlike the earlier offer, union leaders agreed to recommend it. The first offer failed by 12 votes out of more than 500 cast.
Beth Daley, a Globe reporter who voted no on the initial offer, said she expects the new agreement to be ratified. Guild leaders will present the details of the offer to members tonight.
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