Is the WSJ looking to further trim costs?
Stephanie Smith of Women’s Wear Daily wrote Tuesday that the Wall Street Journal is apparently asking a consultant to come into the paper and evaluate how it gathers news and information.
Smith wrote, “Sources say The Wall Street Journal is also looking for a consultant â€” McKinsey & Co. or another firm â€” to examine its editorial processes.
“The move to seek outside guidance comes just weeks after the Journal unveiled a splashy redesign that included shrinking the paper by 3 inches, a move parent Dow Jones & Co. said would save $18 million annually. Now the Journal appears to be looking for consultants to find other areas to trim costs. The search for a firm comes as the Journal is in contract negotiations with a union representing editors and reporters, the Independent Association of Publishers’ Employees.
“A spokeswoman for Dow Jones said, ‘We have consultants coming in here all the time and we don’t comment about what they’re doing.'”
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