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News Corp, a giant controlled by billionaire Rupert Murdoch, announced that it will lay off about 1,2 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.
As sales fell 7,2%, to US$ 2,5 billion in the last fiscal quarter, and Ebitda (earnings before interest, taxes, depreciation and amortization) decreased 30%, to US$ 409 million. The devastating drop in revenue is responsible for the need for layoffs at News Corp.
CEO Robert Thomson has stated that amid persistent interest rates and inflation, job cuts are a necessary response. A measure will affect all businesses of the group – including The Wall Street Journal, HarperCollins, The Times and The Sun – with estimated annual savings of US$ 130 million. Employees will be laid off as the company seeks to weather the crisis.
News Corp had approximately 25,5 employees as of June this year, of which 9 are in the United States, 5,5 in Great Britain and 8 in Australia. In addition, around 4 are represented by unions.
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Tech giants have announced job cuts in Brazil as part of a global restructuring plan. Google and Yahoo are among the companies making adjustments to improve their competitiveness in the market
O Google and Yahoo start wave of layoffs of employees in Brazil. About 170 workers were dismissed between Thursday and Friday, the 10th. Google, which last month announced the dismissal of 12 people globally, half of its workforce, dismissed 90 Brazilians.
According to Layoffs Brasil, cloud computing teams were the most affected by Google's second round of cuts in 12 months. A difficult time for workers who are being affected by these drastic changes.
Yahoo, Amazon, Microsoft and Meta have announced large-scale layoffs in recent months. Yahoo has laid off 20% of its global workforce, with 80 employees in Brazil affected.
Amazon has laid off 18 people around the world, while Microsoft has opted to lay off 10 people. Finally, Meta, which owns Facebook and Instagram, laid off 11 employees at the end of 2019 and does not rule out further cuts in the coming months. All these measures come at a time when advertising revenues are falling and the US economy fears a recession.
Microsoft announces it will lay off 10 employees
