News Corp, Owner Of Major Newspapers Like The Wall Street Journal, The Times, And The Sun, Announced It Will Unfortunately Have To Lay Off 5% Of Its Workforce

Written by Bruno Teles

Published on 10/02/2023 at 21:04

Wall Street Journal (Foto/divulgação)

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News Corp, the giant controlled by billionaire Rupert Murdoch, announced it will lay off around 1,200 workers – 5% of its workforce. This decision comes after the company’s profits plummeted in its book publishing, news media, and digital real estate divisions.

Sales fell 7.2%, to US$ 2.5 billion in the last fiscal quarter, and EBITDA (earnings before interest, taxes, depreciation, and amortization) decreased by 30%, to US$ 409 million. The devastating drop in revenue is responsible for the need for layoffs at News Corp.

CEO Robert Thomson stated that, amid persistent interest rates and inflation, the job cuts are a necessary response. The measure will affect all of the group’s businesses – including The Wall Street Journal, HarperCollins, The Times, and The Sun – with estimated savings of US$ 130 million annually. Employees will be laid off as the company seeks to navigate the crisis.

News Corp had approximately 25,500 employees in June of this year, of which 9,000 are in the United States, 5,500 in Great Britain, and 8,000 in Australia. Additionally, about 4,000 are represented by unions.

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Technology Giants Announce Job Cuts in Brazil as Part of a Global Restructuring Plan. Google and Yahoo Are Among the Companies Making Adjustments to Improve Their Market Competitiveness

The Google and Yahoo have kicked off the wave of layoffs in Brazil. About 170 workers were laid off between Thursday and Friday, the 10th. Google, which announced last month the firing of 12,000 people globally, half of its workforce, laid off 90 Brazilians.

According to Layoffs Brazil, cloud computing teams were the most affected by the second round of cuts at Google in 12 months. It is a difficult time for the workers affected by these drastic changes.

Yahoo, Amazon, Microsoft, and Meta have announced large-scale layoffs in recent months. Yahoo laid off 20% of its global workforce, with 80 employees in Brazil being affected.

Amazon laid off 18,000 people worldwide, while Microsoft opted to let go of 10,000 employees. Finally, Meta, the owner of Facebook and Instagram, laid off 11,000 staff at the end of 2019 and does not rule out further cuts in the coming months. All these measures occur at a time when advertising revenues are declining and the U.S. economy is feared to enter recession.

News Corp, Owner Of Major Newspapers Like The Wall Street Journal, The Times, And The Sun, Announced It Will Unfortunately Have To Lay Off 5% Of Its Workforce

News Corp, the giant controlled by billionaire Rupert Murdoch, announced it will lay off around 1,200 workers – 5% of its workforce. This decision comes after the company’s profits plummeted in its book publishing, news media, and digital real estate divisions.

Technology Giants Announce Job Cuts in Brazil as Part of a Global Restructuring Plan. Google and Yahoo Are Among the Companies Making Adjustments to Improve Their Market Competitiveness

Microsoft Announces It Will Lay Off 10,000 Employees

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News Corp, Owner Of Major Newspapers Like The Wall Street Journal, The Times, And The Sun, Announced It Will Unfortunately Have To Lay Off 5% Of Its Workforce

News Corp, the giant controlled by billionaire Rupert Murdoch, announced it will lay off around 1,200 workers – 5% of its workforce. This decision comes after the company’s profits plummeted in its book publishing, news media, and digital real estate divisions.

Technology Giants Announce Job Cuts in Brazil as Part of a Global Restructuring Plan. Google and Yahoo Are Among the Companies Making Adjustments to Improve Their Market Competitiveness

Microsoft Announces It Will Lay Off 10,000 Employees

In the cold desert of Ladakh, where it hardly rains, engineer Sonam Wangchuk created the ice stupa, a tower that freezes winter water and stores it for irrigating crops in the spring, a simple engineering feat that mimics nature.

Almost 6,000 residents live concentrated along a single street nearly 9 km long in the interior of Poland. Houses form a continuous row, and behind them, narrow agricultural strips emerge, creating one of the most unusual rural patterns in Europe.

Chinese woman planted trees for decades while sand buried part of her house, received $5,000 from an American in 1999, and helped transform the desert into a forest of 8 million trees in China.

Desert sand, previously discarded for being too smooth for concrete, becomes an ecological brick in the United Arab Emirates, dispensing with Portland cement, curing at room temperature, and attempting to transform dunes useless for construction into raw material for a new arid engineering.

They planted a sea of eucalyptus to produce cellulose, but the monoculture turned into a green desert, dried up springs and rivers, and pushed families out of regions in Minas Gerais and Bahia.

Júlia Pimentel, an 11-year-old from Minas Gerais, independently invented a new formula to calculate the square root using simple addition and multiplication, and her method was published in one of the most important mathematical scientific journals in Brazil.

Described by astronauts as one of the most unlikely natural phenomena on Earth, the Okavango Delta spreads over up to 15,000 square kilometers in the middle of the desert and transforms Botswana into a living labyrinth of channels, islands, and flooded areas.

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In the USA, thousands of people are being paid to wash dishes and clean the house with body cameras, every movement turning into data to train robots to imitate humans, in a new “digital gig” that could redefine the future of domestic work.

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