In the middle of the News Corp earnings call, its Dow Jones (NYSE: NWS) subsidiary said it was cutting 14 jobs instead of the 50 positions that had been widely expected. A memo written by WSJ Publisher Robert Thomson and obtained by paidContent also said the paper had recently lost another 11 jobs to “attrition.”
As part of the cuts, WSJ is closing of the New York-based Fashion and Retail group. The paper will still cover the space, which has been particularly hard by a devastating holiday season. Some editors and reporters will be reassigned to other bureaus. While the closing of the group could make WSJ’s efforts to challenge the NYT’s hold on luxury advertisers more difficult, considering the severe pullback in ad spending at this point, it’s probably better to concentrate on that space when things are looking a little brighter. Other groups losing a position include the Los Angeles and Boston bureaus, along with the New York-based Law, Health and Real Estate groups, and the Library.
There are no plans for layoffs at Dow Jones Newswires, Thomson said, offering glimmers of hope in a global media landscape decimated by layoffs upon layoffs these days. “Where our international expansion is continuing, most recently through the launch of a Spanish-language venture and in India, where we are creating a new reporting team to take advantage of that country