Financial Times Whacking 80

Just no good news across the print newspaper business:

Guardian: The Financial Times group is planning to make up to 80 staff redundant across its global operations, telling journalists today that 2009 will be a “crucial year for news media”.

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.

See Also: Financial Times Online Now A Big, Pink Blog



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