According to an official statement, the paper will now enter into a 30-day consultation period with the National Union of Journalists aimed at "keeping redundancies to a minimum".
The publisher currently employs 500 staff as part of its UK operations. The redundancies are higher than the 40 suggested by media reports earlier this month.
A voluntary redundancy programme will be part of the consultation process, which will launch today.
Cuts to the staffing levels are part of a 'new newsroom' project that will restructure the publisher's editorial operations in what the FT says will make it's operations, "one of the most integrated multi-media newsrooms in the world". The changes will affect commissioning, reporting, editing, and production.
It will include creating unified newspaper and website news desks, setting up an FT Interactive content team, teaching writers new multimedia skills, merging paper and online production departments and streamlining the newspaper's editorial teams.
The multi-media news operation will use a new system installed over the last year that enables web and print pages to be published from the same platform.
Lionel Barber, editor of the Financial Times, said: "We start from a position of strength as a market-leading international newspaper with a highly respected website and other emerging online channels. The FT has long been a pioneer in forging an integrated online and print newsroom, with web-first publishing and a unified editorial department. Now we must take the next step.
"Our plans will help us to create an editorial organisation fully equipped to meet the challenge of the digital age. The plans will shape the news operation into one of the most advanced multi-media newsrooms in the world. "
The NUJ has said it will oppose any compulsory redundancies and has called on owners Pearson to carry out proper consultation.
Jeremy Dear, NUJ general secretary, said: "This is a consultation on a fait accompli rather than a proper consultation with the union.
"We would oppose any compulsory redundancies and urge managers at the FT to find an alternative course for the development of new ways of working at the paper to eliminate this threat.
"In the light of recent job losses and an ongoing recruitment freeze, we are also concerned that quality may suffer. You cannot keep cutting staff and not see an impact on the product - or on stress levels among already overstretched staff."
If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the .
.jpg)
.jpg)