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Financial Times staff are holding a “day of action” to protest a pay freeze and a new round of 80 redundancies that is coming through print/online integration and tie-ups with recently-acquired units like Money Media. This flyer embedded below is being handed out and politician Tony Benn is making a rallying speech to workers at the Southwark Bridge HQ.
FT NUJ members are protesting what they say will be nine compulsory redundancies, resulting because only 11 out of 20 editorial staff accepted voluntary packages. They argue FT Group and parent Pearson (NYSE: PSO) are making healthy profits despite the downturn. The leaflet being distributed claims FT Publishing made the equivalent of £35,000 profit on every member of staff in 2007, while bonuses for the FT Group head and some board member rose 22 percent…
“Last year, the people in One Southwark Bridge and in FT operations around the world delivered a stellar performance, scooped a slew of newspaper awards and added readers at a time when newspaper circulation is falling