The Financial Times plans to merge its newspaper and web operations, following the appointment of CFO Rona Fairhead as the CEO of the FT Group in May, Business Week reports (via MediaBuyerPlanner). The project is meant to create a "multi-media newsroom."

The change may result in as many as 50 staffers being cut from its work force. The Times will consult with the National Union of Journalists to keep layoffs to a minimum, according to the article, and voluntary retirement will be offered.