BUSINESS BRIEFING / NEWSPAPERS

The Boston Globe has proposed that wages for the newspaper’s largest union be slashed 23% to keep the newspaper from closing.

Management made what it called its “last best offer” as negotiations resumed between Globe parent New York Times Co. and the Boston Newspaper Guild, according to the Globe’s website and a person familiar with the talks.

The Guild on Sunday offered a 3.5% pay cut for the 700 editorial, advertising and business workers it represents, plus three unpaid furlough days. The union said the proposal would cut its members’ total salaries 5% but wouldn’t make changes sought by management to lifetime job guarantees.