Categories: OLD Media Moves

Job cuts at Wall Street Journal a possibility after deal closes

Aline van Duyn of The Financial Times writes Tuesday that Dow Jones & Co. CEO Richard Zannino intimated that job cuts may occur at The Wall Street Journal after the company is purchased by News Corp.

Van Duyn wrote, “In a letter to employees of Dow Jones, publisher of the Wall Street Journal, Mr Zannino said the main goal of News Corp’s $5bn acquisition was to ‘increase profits by strengthening and growing our products and brands, not by slashing costs’.

“Mr Zannino added that ‘there will be some changes’, and ‘where job cuts are unavoidable, we will communicate that as soon as practical’.

“The letter follows last week’s regulatory filings which begin a countdown to a shareholder vote on the merger.”

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Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.