Compulsory job cuts to be avoided at Financial Times as 30 staff members leave voluntarily
The Financial Times has withdrawn the threat of compulsory redundancy after the talks with the NUJ, although the newspaper will shed 30 jobs on a voluntary basis, it has been confirmed.
Cuts: The Financial Times will see 30 positions go
The FT announced plans earlier this year to cut 35 editorial jobs to "accelerate the shift from print to digital".
Barry Fitzpatrick, deputy general secretary of the NUJ, said: "This outcome proves that with determination and a willingness to explore all the options, the threat of compulsory redundancy can be removed.
"The chapel is to be congratulated on the stand that it took. The solidarity of its members ensure that we can now address the workload issues that arise from the job cuts."
A Financial Times Spokesperson added: "This restructure, including voluntary redundancies and the addition of 10 new digital editorial positions, is a continuation of our transition from a print product into a multi-channel news organisation.
"It will ensure that we continue to meet the needs of our readers and protect the health of the business so that we can carry on investing in publishing the world’s leading global business news and commentary.We want to thank those leaving the FT for all they have contributed over the years."
Print sales have fallen in recent years for the FT while the online audience has grown. When the group announced intentions to cut editorial positions in January, the plans to recruit 10 new digital journalists were revealed.