Boston Globe reaches deal with largest union

Though a tentative agreement between the owner of the Boston Globe and its largest employees union may keep the newspaper alive for now, the long-term future of the 137-year-old Globe is uncertain.

The Globe said Wednesday that the proposal called for employees in the Boston Newspaper Guild to take an 8.3% wage cut and a five-day unpaid furlough, for a total pay cut of roughly 10%. Other cutbacks include a freeze in pension contributions for many employees, an end to matching contributions to 401(k) accounts, and the elimination of lifetime job guarantees for 190 guild employees.

The deal is subject to approval today by the guild’s members, who include 700 editorial, business and advertising staffers.

Looming in the background of their vote is the threat the newspaper’s owner, New York Times Co., made last month to shut down the Globe if its unions did not agree to cut annual expenses by $20 million.

“We all have to be realistic here. I think the situation is dire,” said reporter Shelley Murphy, who has worked for the Globe for 16 years. “It’s going to be a serious whack, but I think the primary goal is to save the newspaper.”