FT plans 80 redundancies

The Financial Times is set to make up to 80 staff redundant across its global operations as part of its restructuring plans, in a bid to sustain its “financial strength”.

The FT‘s chief executive John Ridding has started negotiations with 80 employees about possible redundancy measures today, warning journalists that 2009 will be “crucial year for news media”, according to reports.

Ridding has also confirmed that the FT will increase digital and print integration and will merge some of its existing operations with recent acquisitions to focus on “efficiency and productivity”.

In an email to staff, Ridding said: “Sustaining our financial strength is essential to maintaining the quality of our journals and the dynamism of our organisation.

“We understand that change isn’t easy – especially when it affects colleagues and friends who we’ve worked with closely. But these measures are necessary to build on our success,” he added.

Pearson plans to launch an FT China business report and a digital edition of its How To Spend It magazine this year, as well as growing its Middle East edition and its Chinese language operations.

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