The Boston Newspaper Guild, which represents 700 editorial and business employees, voted 277 to 265 last night against a new contract conceding wage and other benefit cuts, negotiated after the New York Times Company said it needed to come up with $20 million in annual savings to keep the paper open. Now, in order to meet the Times Company's request, the paper says it will resort to implementing a 23 percent wage reduction for all Guild members, effective next week. "We are disappointed that ... the Boston Newspaper Guild did not ratify the Globe’s final proposal," the Globe said in a statement last night. "We regret having to take this action, but have no financially viable alternative." [Boston Herald]