BOSTON (Bloomberg) — New York Times Co. began negotiations with the Boston Globe's unions yesterday to seek an agreement over $20 million in new savings at the newspaper, according to a local union president.

The publisher last week set a 30-day timeline for completing the talks, said Martin Callaghan, president of the Boston Newspaper Printing Pressman Union No. 3. Times Co. has at least 10 unions at the newspaper, representing about 1,350 employees, according to a securities filing.

"The New York Times is sending the message they've had enough of this place," Callaghan, who represents about 230 workers, said in an interview. Shutting down the Boston newspaper is among the options Times Co. is considering, according to Boston Newspaper Guild President Dan Totten.

Times Co. has implemented wage cuts of as much as five percent for all non-union employees, eliminated 100 positions at its namesake newspaper and is seeking to sell its minority stake in the Boston Red Sox baseball team after advertising sales continued to drop this year following a 13 percent decline in 2008.

Catherine Mathis, a Times Co. spokeswoman in New York, said the publisher doesn't comment on internal discussions. A spokesman for the Globe, Robert Powers, didn't return messages seeking comment.Times Co. shares had lost 31 percent this year before yesterday.