The New York Times is squeezing its hard-pressed, low-and-middle income union workers for wage concessions it needs to keep the Boston Globe from shutting down. Its stock price is collapsing like a house of cards, and it’s hemorrhaging cash. And the papers’ editors have crusaded against excessive compensation - especially for firms faring poorly. But apparently none of that is enough to prevent the paper from awarding generous bonuses to its wealthy executives:
At a time when New York Times managers are forcing all employees to take a five percent pay cut, and demanding even larger sacrifices from the NYT-owned Boston Globe, top executives of the beleaguered newspaper received substantial bonus and fringe benefit payments over and above their salaries, according to a proxy statement released on March 11…
