News Corp, parent of media outlets including the Wall Street Journal and Dow Jones, announced plans to cut headcount by 5%, eliminating about 1,250 positions.
, parent of media outlets including the Wall Street Journal and Dow Jones, announced plans to cut headcount by 5%, eliminating about 1,250 positions, with its CEO citing “obvious global challenges.”
“Obviously, a surge in interest rates and acute inflation had a tangible impact on all of our businesses,” CEO Robert Thomson said in prepared remarks. The company’s initiatives “now underway, including an expected 5% headcount reduction, or around 1,250 positions this calendar year, will create a robust platform for future growth.”
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