The Financial Times is the latest publication to get hit with the wrath of the economy as CEO John Fallon announced a plan to save 100 million pounds (roughly $151 million) next year.
In fact, as per a piece on Bloomberg, at a meeting across the pond he informed staff there will be less jobs in the U.S. and the U.K. The changes sound pretty aggressive only because he mentioned the company will attempt to restructure within a year compared to a normal timeframe that’s spread across six years for such changes.
As for the changes themselves, there will be less roles within the print business. As pointed out in the piece, according to a confidential source, specific numbers to the job cuts themselves weren’t revealed. It sounds like their focus will move from its education business to digital.