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

The oldest tree in the world, alive since before the birth of Jesus Christ, is cut down in a scientific study and the case changes environmental preservation rules.

Seen from space, an image taken by an astronaut shows an unlikely oasis in the Saudi Arabian desert, protected by a terrain that slows the advance of sand, surrounded by green circles, remnants of an extinct lake and nearly 10,000 years of preserved history.

An entire island in the Pacific wants to surround itself with a colossal barrier against the ocean to try to escape increasingly violent waves and not be swallowed by the sea in the coming decades.

After ten days orbiting the Moon, science confirms that the astronauts of the Artemis II mission return with altered bodies.

With 7.4 trillion tons of artificial snow pumped in 10 years, an extreme operation could stabilize the West Antarctic ice sheet and prevent a sea level rise of more than 3 meters, but it would require snow cannons, ocean water, and energy on an almost industrial scale at the end of the world.

Peru built a tunnel at an altitude of 4,738 meters cutting through the Andes Mountains, and the road leading to it reaches 4,818 meters, making it the highest paved road in the entire world.

Brazilians spend more hours in traffic each year than on vacation.

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Brazilians spend more hours in traffic each year than on vacation.

São Paulo and the Atacama are at the same latitude: what separates a metropolis of 22 million people from a desert is a forest 3,000 km away.

USP technology was used by NASA in Artemis II.

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