If News Corp. splits, does that mean layoffs or hiring freeze at WSJ?
Lucia Moses of Adweek examines the ramifications of the print media within News Corp., including The Wall Street Journal, if the company splits in half.
Moses writes, “For now, attention has focused on the increased financial pressure its newspapers will likely face as a stand-alone operation without the benefit of the funds its entertainment business can pour into them.
“Already, layoff jitters are spreading throughout the print business, which includes the vaunted Wall Street Journal plus papers in the U.K. and Australia, where properties are already preparing for cuts.
“There’s a lot of worry about that because all the publishing assets have been protected’ by the rest of the company, one Dow Jones staffer fretted.
“Journal parent Dow Jones & Co., under new CEO Lex Fenwick, has already started trimming. Just days ago it announced it would fold SmartMoney, the 20-year-old personal finance magazine, and expand the brand digitally, cutting 25 people in the process.”
Read more here. Talking Biz News heard Wednesday from one Dow Jones editorial staffer who said that there are discussions among the staff abouut the potential for a hiring freeze if the split occurs.