Rupert Murdoch’s News Corp to Cut 1,250 Jobs, Laying Off 5% of Workforce

News Corp, parent of media outlets including the Wall Street Journal and Dow Jones, announced plans to cut headcount by 5%, eliminating about 1,250 positions, with its CEO citing “obvious global challenges.” The media and publishing company, led by exec chairman Rupert Murdoch, said the job cuts would occur in this calendar year. News Corp reported earnings for the quarter ended Dec. 31, with revenue down 7% year over year, to $2.52 billion, while net income fell 64%, to $94 million. Adjusted earnings per share of 14 cents fell short of analyst consensus estimate of 19 cents. “Obviously, a surge… Read Full Article