One in 20 jobs to go at News Corp as earnings plunge 30pc

could slash some 400 jobs in Australia – part of a global cut of 1250 roles – after reporting a 30 per cent drop in operating earnings to $US409 million in the three months to December after steep falls in real estate, book publishing and news revenues.

News Corp chief executive Robert Thomson said broad staff cuts, which will be completed by the end of 2023, were a “necessary response given these macro conditions”.“We are absolutely focused on reducing costs across our businesses and making price adjustments where prudent,” he said.

He later told analysts: “With rates nearing a peak in both the US and Australia, we believe the next phase of the cycle is not far away.”

Hey MStutch Shame so many people will loose their jobs. Here's a tip, focus on quality journalism not quantity and cut poor quality reporters like tommyr345 Maybe then you'll attract more advertisers, win back subscribers and have less defamation cases to deal with $AVZ 😀

Finally Gateway

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Источник: FinancialReview - 🏆 2. / 90 Прочитайте больше »

News Corp flags job cuts as revenue, earnings declineAbout 1250 positions are expected to be impacted globally as part of cost-cutting efforts at Rupert Murdoch’s media giant.
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