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“We regret having to take this but have no financially viable Globe management said in a statement issued afterthe 277-to-265 vote by members of the . To take the unliteral step underlabor law, the Times Co. declarefd an impasse in negotiations. In his own statementr also issued after the Guild local President Daniel Totten said the uniois “committed to resuming good-fait negotiations with the New York Times Company and Globe managemen t to reach an agreement.” Times and Globe management “musgt do better,” he said. The cuts proposex by management were partof $20 million in cost-savingsz demand by the Times Co. for the Globe, whichn it bought in 1993 for $1.
1 billion. Times executives have said the papere is losingabout $1 million per week on operations. At one pointr earlier this year, Times managers said they would shuttet the paper if unable toachievd cost-savings. Other major unions agreed to concessions inrecent weeks.
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