London, Jan.22 (ANI): In a bid to compete with social networking sites and Google, The Financial Times has been planning to cut down staff to shift their traditional print news environment to a more digitally focused networked business.
Lionel Barber, editor of the newspaper, said the newspaper is planning to appoint 10 new digital staff, and will be cutting down 35 of its existing 600 editorial jobs, The Telegraph reports.
According to Barber, it is necessary to lay off the employees for reducing the production cost and increasing online investments, so that the newspaper can compete with social networking sites like Google, LinkedIn and Twitter.
The newspaper will reduce the number of pages in each print edition and bring the US edition more in line with the UK newspaper. (ANI)