In this case they are probably making the right move.
Newspapers are no more savable than ice houses or livery stables were in their day.
If they stay on at a reduced rate they will just be dying slowly and I submit there are much better than even odds that part of upcoming negotiations would include getting employee pension funds to “Invest in the company” to produce operating revenue. That often repeated refrain has lead to pensions that are drained and gone in other obsolescent industries when the doors finally close
Not that I mind the Idea of destitute, homeless former “journalists”.
They can live under their buggywhips.
Fact: The Globe is bleeding the New York Times of $85 million a year, clearly its biggest blackhole.
Fact: This is not the pressmen’s or driver’s union, they all already voted the concessions. This is the reporters and editors union. These guys are next to unemployable in this environment. The Times was asking for a measly 8%, they may wind up out of work completely.
Yes but those “journalists” aka propagandists have lifetime employment. It is written into their union contract.
The NY Times management and Pinch Sulzburger are just being greedy.