Please do not leave this page until complete. This can take a few moments.
The unions representing the 500 employees at Blethen Maine Newspapers are accepting concessions that will allow the sale of the company to Richard Connor's investment group MaineToday Media Inc.
The Portland Newspaper Guild, the largest union in the company with 300 members, on Friday voted to accept concessions, including a 10% pay cut, a two-year wage freeze and a suspension of both 401(k) and pension contributions. Tom Bell, president of the guild, also said "significant layoffs" are expected, but he was confident the majority would happen through buyouts. Companywide, Connor has said as many as 100 layoffs are possible, according to the Kennebec Journal.
In addition, the Portland Typographical Union, which represents production workers; the Graphic Communications International Union, which represents press workers at the newspaper's South Portland plant; and the Communication Workers of America, which represents 85 workers at the Kennebec Journal in Augusta, have all voted to accept similar concessions, though the details of those contracts were not available, the Portland Press Herald reported.
In exchange for the Portland Newspaper Guild's concession, union members will receive 15% ownership in the new company and two seats on the board of directors, according to Bell. "These concessions represent our contribution to the company," Bell said at a press conference Friday.
The Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Learn MoreWork for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Learn MoreFew people are adequately prepared for all the tasks involved in planning and providing care for aging family members. SeniorSmart provides an essential road map for navigating the process. This resource guide explores the myriad of care options and offers essential information on topics ranging from self-care to legal and financial preparedness.
Learn moreThe Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Work for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Few people are adequately prepared for all the tasks involved in planning and providing care for aging family members. SeniorSmart provides an essential road map for navigating the process. This resource guide explores the myriad of care options and offers essential information on topics ranging from self-care to legal and financial preparedness.
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
This website uses cookies to ensure you get the best experience on our website. Our privacy policy
To ensure the best experience on our website, articles cannot be read without allowing cookies. Please allow cookies to continue reading. Our privacy policy
Comments