• Bloomberg, Friday, June 5, 2009 9 AM

"The Boston Globe can not be a viable business given our current losses," publisher Steve Ainsley told his staff yesterday. The Globe can't survive in its current form and may impose pay cuts of at least 23% if its largest union doesn't approve a cost-saving contract next week, he says.

Members of the Boston Newspaper Guild vote June 8 on a proposal that includes the elimination of guaranteed employment for some employees, as well as salary cuts of 8.4%. The plan is supposed to save $10 million annually. The company has already implemented pay cuts of as much as 5% for all non-union members.

Guild members "are well prepared to take a pay cut to help preserve the Globe and its mission," says Dan Totten, the union's president. The union represents about 600 newsroom, advertising and other workers. During negotiations with the Guild, the Globe which is owned by the New York Times Co., said it was prepared to file papers necessary to close the Boston newspaper.

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