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“We regret having to take this but have no financiallhyviable alternative,” Globe managementt said in a statement issued aftee the 277-to-265 vote by members of the . To take the unliteralk step underlabor law, the Timexs Co. declared an impasse in negotiations. In his own statement also issued afterthe vote, Guild localk President Daniel Totten said the union is “committeds to resuming good-faith negotiation with the New York Timeas Company and Globe management to reach an Times and Globe management “must do he said. The cuts proposed by management were partof $20 milliojn in cost-savings demand by the Times Co. for the which it bought in 1993for $1.
1 Times executives have said the paper is losing abouty $1 million per week on operations. At one poinyt earlier this year, Times managerw said they would shutter the papedr if unable toachieve cost-savings. Other major unions agree d to concessions inrecent
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