New York Times Co. Threatens to Shutter The Boston Globe

The Globe quoted union officials last night as saying that Times and Globe executives made the demands in a 90-minute meeting with union officials. The unions were asked to quickly agree to $20 million in cost-cutting moves to avoid the potential shutdown.

The executives told the union leaders that the Boston paper will lose $85 million this year without serious cutbacks, the Globe report said. An employee briefed on the discussions was quoted as saying the Globe lost $50 million last year.