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'FT' Journos: Why Cut Newsroom When Pearson's Making Record Profits?

Magazine article Editor & Publisher

'FT' Journos: Why Cut Newsroom When Pearson's Making Record Profits?

Article excerpt

Pearson LLC CEO Marjorie Pearson is expected to hear an earful from Financial Times journalists in Britain Friday at a staff briefing.

The FT newsroom employees are already set to vote on a strike over layoffs and compulsory pay freezes -- and The Guardian newspaper reported Thursday the journalists are now even more incensed following the announcement Pearson's profit rose 11% for 2008.

FT has said it will lay off 80 employees, including 20 from the newsroom. The newspaper is also offering a three-day work week during the summer, as a way to cut costs.

Union staffers have voted to hold a strike ballot in protest at the FT decision to impose 80 redundancies, including 20 journalists, but are negotiating with management over the cuts. Management has offered the news staff the chance to work a three-day week over the summer as one of several cost cuts.

David Crouch, a leader of FT's National Union of Journalists local, told the Guardian's Stephen Brook there is no need for "compulsory redundancies and for a pay freeze at the Financial Times. …

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