/ Source: The Associated Press
The New York Times Co.'s chief executive has thanked employees of The Boston Globe for helping improve its financial condition enough for it to drop plans to sell the newspaper.
The Globe reports Janet Robinson told employees at a meeting Thursday that the newspaper still needs to bring in more revenue and declined to rule out additional job cuts.
Robinson spoke to about 200 Globe workers a day after the Times Co. announced it had decided not to sell.
Earlier this year, the Times Co. threatened to close the Globe, saying it could lose $85 million this year. The newspaper's unions then agreed to deep wage and benefit cuts, and the paper made a series of other changes to help the bottom line.
