The Financial Times is cutting 64 jobs, reports Natalie Theodosi of WWD.
Theodosi reports, “The cuts, which include 20 editorial positions and 19 jobs at FT Chinese, are a result of a “small loss” the media group had to pare in 2020, compared to a 28 million pound operating profit last year.
“‘We condemn the FT’s moves to make staff redundant just before Christmas in what has been a year of massive uncertainty due to the pandemic; this contrasts starkly with the ceo’s reassurances this summer that no jobs would be lost during 2020,’ said the National Union of Journalists.
“The FT did not confirm the proposed layoffs, but said the group is adjusting to the changes in the media landscape following the COVID-19 outbreak. A new strain of the virus has recently surfaced in the U.K., forcing the British government to put large parts of London and the southeast in lockdown and many countries to begin barring travelers from the U.K.”
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