THE Financial Times is planning to cut 30 editorial jobs, according to a memo sent to staff yesterday. A further 20 staff who work in non editorial areas are to be redeployed.

Editor Mr Richard Lambert said the company hoped that almost all the redundancies would be voluntary, but there would be six compulsory redundancies in the picture department which is to be closed. The FT is currently running £2 million sterling below its revenue budget for this year, according to the memo.