In an attempt to close the significant financial gap between them, Guild and Times management negotiators will resume mediated talks on Sunday for a scheduled seven-hour session.

Because of The Times's self-imposed deadline for reaching a deal by Nov. 15, the outcome of this weekend's session is expected to be pivotal in either reaching an agreement or leading to a declaration of impasse by the company, under which it would impose its "best and final offer."

While another mediation session is scheduled for Tuesday night, time for a settlement is running out because of the company's insistence that it must freeze the current Guild pension plan by the end of 2012. In order to freeze the plan, federal law requires that The Times provide members with 45 days' notice. So, in the mind of management, an agreement must be finalized by Nov. 15.

To meet this deadline, the Guild estimates that a deal would have to be reached by the end of first week of November. The Guild's bylaws require that our union notify members at least five days in advance of a ratification vote. The Guild also needs time to distribute a tentative agreement for your consideration before a ratification meeting.

While we are hopeful that we will be able to achieve a fair contract through the mediation process, there is a genuine possibility that this effort will fail, based on how far apart the two sides are in their financial positions. With the stakes so high and the deadline so tight, Guild members should continue to stand ready to support our mission to keep health care costs stable, retirement benefits meaningful and job security provisions intact, along with securing true wage increases.

We will contact you -- in our usual manner -- late Sunday evening. Please check your emails for further information and instructions.