FT strike

A strike at the Financial Times was threatened yesterday following confirmation that journalists have voted overwhelmingly in favour of industrial action in response to recent restructuring and 30 proposed job cuts. A postal ballot last week was completed by 66 per cent of staff, of whom 84 per cent voted for industrial action short of a strike and 64 per cent supported a full strike if necessary.

The firm support for industrial action will increase pressure on FT management to soften the proposed restructuring. The proposed layoffs, mainly among sub-editors, are the first at the FT since the cover price war and spiralling newspaper costs forced cost-cutting at most national newspapers.

Many staff have conceded the need for budgetary restraint but are concerned about how the review was conducted. Union representatives, who withdrew from the review process before the cuts were announced, are to meet staff to discuss the strike ballot.