Boston Globe employees willing to accept pay cuts to save newspaper

The Boston Globe reports its employees say they are open to concessions and pay cuts if management also agrees to make some sacrifices. The New York Times Co., which owns New England's largest newspaper, threatened to shut it down Friday unless unions agreed to $20 million in concessions. The concessions would include "pay cuts, reduced company contributions to retirement and healthcare, and the elimination of lifetime job guarantees now enjoyed by some 430 workers." The Globe took a $50 million loss in 2008 and is expected to lose $85 million in 2009. The paper currently has about 1,400 employees. 

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