Boston Globe employees accept wage cuts.

The Boston Globe's largest union on Monday voted by nearly two to one to accept pay cuts in an attempt to save the troubled newspaper.

A package of wage and benefits cuts will enable the 137-year-old paper to save $10m a year.

The recent approval has significantly opened the way for the newspaper's owner, New York Times Co., to sell it.

Boston Globe Guild members will face a 23 percent wage cut. <br /> <br />Under the new contract, Guild members, approximately 700 editorial, business and advertising employees would lose nearly 6 percent of their salary, as opposed to the 8.3 percent previously proposed.