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‚ÄėFinancial Times‚Äô takes steps to hold down costs

Published on .

London‚ÄĒPearson‚Äôs Financial Times is planning to reduce staff, according to an internal memo released last week. The memo, written by Financial Times CEO John Ridding, said the publication needs ‚Äúto prepare for difficult times,‚ÄĚ so it was taking several steps, including 2009 salary freezes for employees making more than $50,000; offering ‚Äúvoluntary redundancy‚ÄĚ; and offering voluntary reduction in work weeks, with a corresponding reduction in pay.
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