More Staff Cuts to Hit Financial Times
ADDED: Financial Times communication manager Ryann Gastwirth emailed some clarifications to this story. His full email is below:
The cuts and restructuring outlined by
Fallon are Pearson-wide and not specific to the FT. Also, the second sentence refers to comments John Fallon made in a Pearson results presentation to analysts on Feb 25, not in a new announcement yesterday.
Back in January, the Financial Times announced it would cut a total of 25 jobs. Today it was announced that in an effort to "generate $151 million in cost savings" by 2014, there would be "fewer jobs" at its U.S. and U.K. operations.
The person who attended the meeting and reported on the proceedings to Bloomberg said that no numbers were given as far as the number of job cuts.
Regardless, it looks as though even more members of the elite media will now be forced to live in the jobless Obama economy they worked so hard to ensure would linger another four years. Maybe that will help inform their reporting if they ever land another media gig.
Hey, don’t feel sorry for them. They’re the ones who assured us that no jobs and plenty of food stamps was a "recovery."
Obviously, they have nothing to worry about.
Follow John Nolte on Twitter @NolteNC