The Boston Globe's largest union and its owner failed to reach an agreement on wage and benefit cuts after another all-night negotiating session.

A spokesman for the 137-year-old newspaper said a management-imposed pay cut of 23 percent remains in effect following talks that lasted well into Wednesday morning. Spokesman Robert Powers said in a statement that the sides are scheduled to formally meet again on Monday.

Dan Totten, president of the roughly 700-member Boston Newspaper Guild, says informal talks will continue Wednesday by telephone.

Globe owner The New York Times Co., cut pay 23 percent after the Guild rejected a new contract last week that included $10 million in wage and benefit cuts.