May 5, 2009 / 12:05 AM / 10 years ago

New York Times union OK's 5 percent pay cut: memo

NEW YORK (Reuters) - Unionized employees at the New York Times newspaper on Monday ratified a 5 percent pay cut, according to a memo obtained by Reuters.

New York Times newspaper employees who are members of the New York Newspaper Guild voted 377 to 36 to ratify the pay cut agreement, which includes 10 additional paid days off, while Guild members at the Times’ digital unit ratified the agreement by a 50-0 vote, according to the memo.

The Guild members signed off on an agreement with New York Times management last week designed to save the newspaper $4.5 million.

The vote paves the way for the pay rates of more than 1,300 newspaper and online employees to be reduced starting Tuesday, according to the memo.

Reporting by Phil Wahba and Robert MacMillan; Editing by Phil Berlowitz

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