The Financial Times will eliminate 60 staffers, mostly in commercial departments, the Guardian reported Wednesday.

FT management has started to consult with employees about the redundancies. Those facing the risk of losing jobs include staff in the editorial library and the managing editor's office, as well as in advertising sales, finance, IT, conferences and marketing departments.

No journalists will be cut, said the publisher. However, FT insiders fear “the loss of librarians will affect editorial quality,” the Guardian reported.

According to Dan Bogler, the FT's managing editor, six library positions may be cut along with two from his office.

"We are continuously looking to streamline our organisation, to make it as efficient as possible and to adapt it to the rapidly changing media industry," according to John Ridding, Financial Times chief executive, who announced the news in an e-mail Tuesday, the Guardian reported

"This has involved creating a global management structure, integrating print and online, and bringing our acquisitions more closely into the FT," he said, according to the Guardian. "We are now assessing further steps in this process."

According to an insider, this move as "doing a Murdoch on the FT," which refers to the 25 library jobs cut at News International in July.

A spokeswoman said the cuts were part of the paper's streamlining and integration plan.

The Financial Times' publisher, FT Group, announced last week that revenue for the first nine months this year increased 11 percent year-on-year, which outperformed many other players. Advertising revenue was up one percent over the same period, the Guardian reported.