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FT Said to Cut 3% of Editorial Staff as Print Declines

Bundles of the Financial Times newspaper sit at a John Menzies Plc distribution center in London, U.K., on Friday, July 23, 2015. For Nikkei Inc., Japan's biggest financial news group, Thursdays $1.3 billion deal to buy the Pearson Plc owned Financial Times capped a lengthy pursuit of the pink-hued newspaper.
Photographer: Simon Dawson/Bloomberg

The Financial Times, the salmon-colored newspaper bought by Japan’s Nikkei Inc. in 2015, is eliminating 20 editorial jobs globally through attrition to cut costs as print revenue declines, according to people familiar with the matter.

The newspaper is offering a handful of voluntary buyouts and won’t replace some people who are leaving, which will cause headcount to shrink, said Kristina Eriksson, an FT spokeswoman, in an e-mailed statement. The Financial Times has about 600 editorial staff worldwide.