The World: Boston - Boston Globe to close unless $20m deal is reached

The New York Times has said it will close its Boston Globe publication unless the newspaper's unions agrees to $20 million in concessions.

The concessions, which were outlined in a recent meeting between Times executives and the newspaper's 13 unions, are thought to include pay-cuts, the end of pension contributions by the company and the removal of lifetime job guarantees that are offered to some veteran employees.

Union leaders said the concessions will be negotiated individually with each of the unions in a series of meetings.