WSJ cuts jobs and closes some bureaus
New York
DOW Jones, the parent company of The Wall Street Journal, began a sweeping round of job cuts on Thursday, including eliminating entire teams of reporters and closing international bureaus.
In a memo to the staff on Thursday, The Journal's editor-in-chief, Gerard Baker, said that the company was trying to transform to a more digital operation. "This process inevitably requires us to discontinue some of our activities as we invest more in others," he said.
He listed challenges that the company faces and outlined its strategy in the memo, which had the subject line "The Next Steps". Job cuts are mentioned for the…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Gazelle Ventures makes cash offer for No Signboard shares at S$0.0021 apiece
Marina Bay Sands Q1 profit surges 51.5% to US$597 million on tourism boom
Swiss watch exports plunge as China and Hong Kong demand dries up
Cutting the cord?: Events leading up to Cordlife’s MOH suspension and arrests of its directors, ex-group CEO
Billionaires selling cheap stuff get richer from inflation pain
Amazon to push cashierless shopping tech into more third-party stores, while backing off itself