FT to cut 80

Share this content:

The Financial Times group will cut up to 80 positions as part of a larger restructuring, according to a memo from company's chief executive, John Ridding.

A consultation process on the restructuring begins today, Monday, and the FT group expects to be able to notify employees of all lay-offs by the end of the day Tuesday. No decisions had been released as of press time. Ridding's memo notes that the Financial Times group will try to help cut employees find alternative employment within the FT and parent company Pearson.

“Structural change caused by audiences and advertisers moving to digital channels is combining with global recession to intensify the twin challenges facing our industry,” read a part of Ridding's note to employees. “Maintaining our market leadership means we must continue to invest, to adapt and to deploy our resources to maximum effect. We are determined to sustain our momentum through these challenges and emerge in even stronger competitive shape.” 

Even amidst the cuts, the company will continue to invest in FT.com, which is expected to hit 1 million registered users this month. Further plans for the company include increased integration between digital and print operations, the merging of some recent acquisitions with existing properties, the launch of new digital products and expansion in foreign markets, including China and the Middle East.

The company's flagship publication, the Financial Times, relaunched its Web site in November. New features to the site included a Middle East edition homepage. The site is one of the biggest drivers of FT print subscriptions, and bundled subscriptions to both print and Web are offered. The FT had a daily circulation of 435,319 as of December.


Loading links....

Sign up to our newsletters

Company of the Week

We recently were named B2B Magazine's Direct Marketing Agency of the Year, and with good reason: We make real, measureable, positive change happen for our clients. A full-service agency founded in 1974, Bader Rutter expertly helps you get the right message to the right audience at the right time through the right channels. As we engage our clients' audiences along their journey, direct marketing (email, direct mail, phone, SMS) and behavioral marketing (SEM, retargeting, contextual) channels deliver information relevant to the needs of each stage. We are experts at implementing and leveraging marketing technologies such as CRM and marketing automation in order to synchronize sales and marketing communications. Our team of architects and activators plan, execute, measure and adjust in real time to ensure the strategy is working as needed and change things if it's not.

Find out more here »

DMN's Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here