Journalists at the Financial Times are in a dispute with management over plans to require editorial staff to work from the office four days a week by the end of the year. The FT branch of the National Union of Journalists (NUJ) has unanimously voted to invoke the company's dispute procedure, arguing that management has not made a compelling case for the change from the current three-day requirement.
Union Concerns
Staff received an email about the proposals this month, prompting a fiery meeting where the FT chapel of the NUJ decided to invoke the dispute procedure with Tobias Buck, the FT's managing editor. The NUJ officers have been informed of the dispute this week.
One journalist described the email as a bolt out of the blue, stating that the case for the mandate has not been made at all. The motion, shared with all FT Group NUJ members and seen by the Guardian, raises several concerns about the impact of a four-day mandate.
Discrimination and Financial Impact
Concerns include whether the increase to four days discriminates against parents, particularly mothers, and the detrimental financial impact on many staff. Some staff were reportedly hired on the basis of a commitment to three-day office working.
Another issue is that the policy would apply only to about 500 to 600 FT Editorial staff at its London headquarters at Bracken House, of which about two-thirds are union members. It does not include another 500 to 600 staff at the head office, including commercial, IT, events, and HR departments, or FT Specialist. Staff in other offices, including overseas, would remain on more flexible hybrid working arrangements.
Union Statement
In an email to members, the FT chapel said: "The FT chapel believes that the edict comes at a time when, more than ever, our coverage depends on the goodwill and flexibility of editorial staff. This has resulted in efforts that have contributed to high productivity, audience engagement and profit."
The dispute process under the FT's house agreement has three escalating stages, and the union ultimately has the option to ballot for strike action. An FT spokesperson said the company is discussing newsroom office attendance with the NUJ.
Financial Performance
The FT reported a 6% increase in global revenues to £540m in 2024, according to an internal company report. Global operating profit rose 41% year-on-year to £42.2m. The FT is owned by Japanese media group Nikkei, which acquired it for £844m in 2015.
Revenue at the UK operation grew 2% to £454.6m in 2024, but operating profit slumped by 19% to £7.3m, attributed to inflation and investment in 30 extra employees. The FT Group's global paying audience increased from 2.57 million at end-2023 to 2.83 million at end-2024. The FT alone reached 1.48 million paying readers across all formats in 2024, of which 1.35 million were digital subscribers.
