WSJ to Cut Jobs in Europe, Asia Bureaus of Paper, Union Rep Saysby
‘We remain committed to covering the region,’ Dow Jones says
Layoffs mark second round of cuts at newspaper in three months
The Wall Street Journal is laying off employees at bureaus in Asia and Europe as the publisher cuts costs in the face of declining print advertising, a union representative said.
It’s unclear how many jobs will be cut, according to Timothy Martell, executive director of the Independent Association of Publishers’ Employees 1096, which represents workers at Dow Jones, a subsidiary of Rupert Murdoch’s News Corp. that owns the newspaper.
A spokeswoman for Dow Jones responded to a question about the cuts by saying “this is ongoing work as part of the WSJ 2020 program announced last year. We remain committed to covering the region and will continue to do so robustly.”
In October, Dow Jones Chief Executive Officer William Lewis described “WSJ 2020” as “our action plan for the next three years -- a plan that capitalizes on mobile-driven membership efforts and reflects the re-balancing of our revenue streams in the modern marketplace.”
Tuesday’s cuts are the second round of layoffs at the Journal in three months. In November, the paper cut staff while folding the Greater New York section into another section of the print newspaper and merging other sections like Business & Tech and Money & Investing.
The Journal is scaling back on expenses as the newspaper industry tries to sign up more online subscribers to make up for a decline in print ads. The Journal surpassed 1 million digital-only subscribers last year.
Bloomberg LP, the parent of Bloomberg News, competes with News Corp. and the Journal in providing financial news and services.
POLITICO earlier reported on the job cuts.