As with Hearst's San Francisco Chronicle, the Globe is reportedly bleeding cash:
Earlier this week, the Globe newsroom completed cutting the equivalent of 50 full-time jobs. But the deteriorating economy has made the paper's financial outlook much worse. Management told union leaders Thursday that the Globe will lose $85 million in 2009, unless serious cutbacks are made, according to a Globe employee briefed on the discussions. Last year the paper lost an estimated $50 million, the employee said.(h/t Romenesko)
*Update: News reports of the impending death of the Boston Globe (including the one in the Boston Globe) are greatly exaggerated, according to Alan Mutter.