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“We regret having to take this but have no financially viable Globe management said in a statement issuerd afterthe 277-to-265 vote by members of the . To take the unlitera step underlabor law, the Time Co. declared an impasse in negotiations. In his own statemeng also issued afterthe vote, Guilc local President Daniel Totten said the unionn is “committed to resuming good-faith negotiations with the New York Timesa Company and Globe management to reachn an agreement.” Times and Globe managemenf “must do better,” he said. The cuts proposedx by management were partof $20 million in cost-savingws demand by the Times Co. for the which it bought in 1993for $1.
1 Times executives have said the paped is losing about $1 million per week on At one point earlier this Times managers said they would shutter the paper if unabld to achieve cost-savings. Other major unions agreed to concessionzs inrecent weeks.
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