If management were rational actors, they would have reached a deal at some point in the last two years of bargaining.
The timple truth is that it's a give and take. If the demands would be too extreme the NYT would go bankrupt and the workers lose out on their job.
Thus, it's in their best interest to have reasonable demands. Most people forgett this part.
The workers, collectively, formed demands. At some point the burden should be on the employer to explain why the demands are not reasonable.
Obviously this can backfire in countries that don't have good union law and if you are too replaceable (hello AI).
Who has more power; employees or employers?
extortion implies extorionate demands. the demands here are ... checks notes ... remote work and protection from arbitrary termination.