OLD Media Moves

Cuts being made at Wall Street Journal

July 14, 2008

Jeff Bercovici of Conde Nast Portfolio reports Monday that a number of Wall Street Journal staff members have been given exit packages, with more on the way.

Wall Street JournalBercovici writes, “The paper, which has reorganized its masthead a couple times already in the past four months, is giving exit packages to around half a dozen staffers. They include Carol Hymowitz, who writes the management column ‘In The Lead,’ Terri Cullen, who writes the personal-finance column “Fiscally Fit,” and Tom Weber, co-writer of the Buzzwatch blog. Several of those taking the packages will continue to work at the paper for a month or more, according to sources.

“But the number of Journal refugees could be about to rise sharply if a rumor now circulating proves true: The word is a long-expected cull of copy editors at the paper’s South Brunswick office is scheduled for later this week. Evidently, the thinking is that it will be easier to eliminate most of the New Jersey-based copy desk and restaff the department as necessary following the paper’s move to its new Midtown offices later this year than to relocate everyone involved. I’m hearing the number of employees affected will be in the dozens.”

Read more here.

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