Kenneth Li and Ben Fenton of the Financial Times report Wednesday that The Wall Street Journal is expected to cut some jobs as part of a widespread trimming at parent News Corp.
Li and Fenton write, “The Wall Street Journal, which has avoided deep cuts in the newsroom — considered the lifeblood of the organisation — is expected to trim about 25 positions, or 3 per cent of editorial jobs, by means of attrition, voluntary redundancies and possible lay-offs.
“The expected reductions pale in comparison with the jobs cuts being made throughout the newspaper sector including Gannett, the top US newspaper publisher, which cut 4,000 jobs in 2008 alone.
“They are symbolic, however, as Rupert Murdoch’s News Corp has historically spared his favourite properties in spite of heavy losses at some titles. Lachlan Murdoch, his elder son, once admitted the New York Post loses about $40m a year.”
Read more here. The story notes that Robert Thomson, editor-in-chief of Dow Jones and managing editor of the Journal, is on a road show in London this week to discuss Dow Jones’ future.
