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THE NEW YORK TIMES REACHES AN AGREEMENT WITH THE MAILERS' UNION

 THE NEW YORK TIMES REACHES AN AGREEMENT WITH THE MAILERS' UNION
 NEW YORK, Aug. 24 /PRNewswire/ -- The New York Times (AMEX: NYT) announced it has reached an agreement with the New York Mailers' Union No. 6 ("The Mailers"). The agreement is subject to ratification by the Mailers' membership in a vote on Sept. 14.
 The Times did not disclose details of the agreement.
 In 1989, The New York Times Company provided $30 million to cover the estimated costs of financial incentives for voluntary buyouts for The Times's production unions. It is anticipated that the amount remaining in that reserve, approximately $10 million, should be sufficient to cover any costs related to the agreement with the Mailers. It is possible that there will be an additional charge against earnings if negotiations with other production unions result in new labor agreements.
 The Mailers assist in the flow of newspapers from the presses through the bundle-tying machines and to the delivery loading dock. They also operate the inserting and collating machinery for the Sunday newspaper.
 -0- 8/24/92
 /CONTACT: Nancy Nielsen, 212-556-7078, or William Adler, 212-556-7077, both of the New York Times/
 (NYT) CO: New York Times Company ST: New York IN: PUB SU:


PS -- NY081 -- 2744 08/24/92 17:09 EDT
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Publication:PR Newswire
Date:Aug 24, 1992
Words:211
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