Dow Jones Downsizing: Union Speaks Out
Dow Jones, a division of News Corp that includes financial news outlets The Wall Street Journal, Barron’s and MarketWatch, plans to lay off a number of employees today, according to IAPE, the union representing unionized employees at Dow Jones.
A Dow Jones spokesperson did not immediately respond to questions about the layoff plans.
In a statement on the IAPE website, the union said it does not currently know the total number of jobs, workplaces and departments of affected employees.
The layoffs appear to be global, with employees outside the United States also receiving invitations to layoff meetings, IAPE wrote.
In an email sent Wednesday, IAPE site managers for the southeastern United States told Dow Jones employees represented by the union in Washington, D.C. that, while Dow Jones has not yet clarified the extent of the layoffs, they understand that no reductions in the news department of the Wall Street Journal, in Washington, D.C. or elsewhere, are included in this series.
News of the planned layoffs at Dow Jones comes amid planned cuts in other outlets, including the Washington Post.
Announcement From Newspaper Industry
The newspaper industry announced 1,800 job cuts last year, a 20% increase from 1,500 cuts in 2021, according to a January report from Challenger, Gray & Christmas.
In December, News Corp named Emma Tucker, editor of The Sunday Times, as the new editor of The Wall Street Journal and The Dow Jones Newswires. Tucker will begin his new role on February 1.
Reuters, part of Thomson Reuters Corp, competes with Dow Jones.
This article is originally published on zonebourse.com