The New York Times Co. met with unions from the Boston Globe in order to negotiate a solution regarding the $20 million in proposed savings at the newspaper, Bloomberg reported.

The talks have been given a 30-day deadline by the Times Co., which Boston Newspaper Printing Pressman Union President Martin Callaghan said "is sending the message they've had enough of this place."

In increased attempts to cut spending, Times Co. has imposed wage cuts of up to 5 percent for non-union employees, done away with 100 positions and actively sought selling its stake in the Boston Red Sox, Bloomberg reported.

The New York Times Co. has seen its stock fall by 28 percent this year coupled with a 13 percent decline in advertising sales.