News Corp set to axe some jobs at Dow Jones as it unifies with Wall Street Journal
News Corp.'s is preparing to unify Dow Jones Newswires and Wall Street Journal newsrooms, which will see a number of jobs axed in addition to some buyout packages.
“In the process of integrating our resources, we will be undertaking a limited restructuring around the world that will result in some consolidation of positions," Gerard Baker, editor-in-chief of Dow Jones, told employees in an internal memo.
"And as the end of the fiscal year approaches, as is usual practice, some of our colleagues are taking buyout packages."
Combined, the WSJ and Dow Jones have about 2,000 employees combined, and fewer than 12 are reported to have taken buyout offers.
It remains unclear how many positions will be lost overall.
It comes as News Corp forges ahead with the split of its publishing arm from its entertainment business, with Baker saying: "It is a timely juxtaposition. The single, unified news organisation we are creating at Dow Jones will contribute vitally to the success of the new News Corp."