Categories: OLD Media Moves

FT to cut 90 jobs

Stephen Brook and Mark Sweney of The Guardian write Monday that the Financial Times is planning to cut 90 jobs this year.

They write, “The FT chief executive, John Ridding, told staff the company had started negotiations with 80 employees about possible redundancy as part of its restructuring plans. All those who may face redundancy will have been contacted by tomorrow, he said.

“Ridding also revealed that the FT will increase digital and print integration and will merge some of its recent acquisitions with existing operations.

“The FT, which is owned by Pearson, will this year launch a China business report and a digital edition of its highly profitable How To Spend It magazine. The paper also plans to grow its Middle East edition and its Chinese language operations.

“Ridding told staff in an email today that the company had to be especially focused on ‘our efficiency and productivity.'”