By: E&P Staff Seeking a "deepening integration" in the print and digital operations of its newpaper and commercial businesses, the Financial Times said Monday it is eliminating some 80 people from its staff worldwide.
"We are now taking the next steps in reorganizing and streamlining our business," FT John Ridding said in a "Dear All" memo to employees. "We are deepening integration in our print and digital operations, combining some operations with our recent acquisitions and simplifying some of our processes to increase efficiency and deploy resources in line with our objectives. These changes involve a restructuring plan across several departments, and regrettably, about 80 people are likely to be affected across our global operation."
The layoffs also eliminate duplications in functions with newly acquired properties, the memo said. Last October, 60 jobs were eliminated in a round of layoffs.
FT is moving quickly, the memo indicates. Affected employees will be notified by tomorrow, and on Wednesday Ridding and FT Editor Lionel Barber will be making a presentation to employees on the changes.
Among the specifics mentioned in the memo are further investmenet in FT.com, which Ridding said had reached 1 million registered users. In recent months, FT has moved more content to free from behind the paywall.
Ridding said the paper will be launching new digital publications, including a China business report. That's in line with what Ridding sees as a "sustained international expansion, including growth in our Middle East edition and Chinese language operations."
The complete memo is posted online at E&P's business-oriented blog
Fitz & Jen blog.
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