The Financial Times has withdrawn the threat compulsory redundancies, according to the National Union of Journalists.
In January the paper announced it was seeking to drop 35 editorial positions – and hire ten new digital journalists – as it sought to “accelerate the shift from print to digital”.
According to the NUJ, 30 journalists have left the paper on a voluntary basis but no one will be forced to leave their position.
Deputy general secretary Barry Fitzpatrick said: “This outcome proves that with determination and a willingness to explore all options the threat of compulsory redundancy can be removed.
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“The chapel is to be congratulated on the stand that it took. The solidarity of its members ensured that we can now address the workload issues that arise from the job cuts.”
In January FT parent company Pearson warned that restructuring costs would hit FT Group’s profits for 2012.
And editor Lionel Barber outlined in an email to staff exactly what that would mean.
He said a voluntary redundancy scheme has been opened and: “The intention is to reduce the cost of producing the newspaper and give us the flexibility to invest more online.”
He added: “Our common cause is to secure the FT's future in an increasingly competitive market, where old titles are being routinely disrupted by new entrants such as Google and LinkedIn and Twitter. The FT's brand of accurate, authoritative journalism can thrive, but only if it adapts to the demands of our readers in digital and in print, still a vital source of advertising revenues.”
The plan is, he said, to cut £1.6m from the editorial budget.
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