Chronicle's unions make concessions to Hearst

Two unions representing employees at the San Francisco Chronicle have agreed to make major concessions, after the newspaper's owner, Hearst Corp., said it may have to sell or shut down the San Francisco newspaper, The Berkeley Daily Planet reported Wednesday.

In response, the unions have agreed not to protect senior employees from the upcoming 31 percent job cuts. Other concessions would include not allowing new hires to become mandatory union members.

According to Hearst, the Chronicle has been unprofitable since 2001, reporting losses of US$50 million in 2008, The Berkeley Daily Planet reported. Hearst has also said it may close the Seattle-Post-Intelligencer, although there is talk that the newspaper may go completely online.