Details of the agreement were not released, as reported by Jessica Heslam and Christine McConville of the Globe:
The New York Times Co., itself facing a severe financial crisis, had warned the Boston Newspaper Guild in no uncertain terms that it would order a sweeping 23 percent wage cut for all 700-plus Guild members if an agreement was not reached.
There was no word on the major sticking point during marathon negotiations over the last four days - the lifetime job guarantees held by about 190 members of the Guild, which represents editorial and advertising workers. Lifting or modifying those guarantees would leave those staffers vulnerable to layoffs.
“These negotiations have concluded this evening and we have a proposal to bring before the members of the Boston Newspaper Guild,” said Guild president Dan Totten, emerging from the latest round of intensive talks at 3:40 a.m.
“Out of respect to our members, we’re not disclosing any details until we meet with the membership and the New York Times has agreed to do the same thing.”