News Corp, which owns The Wall Street Journal and HarperCollins, said it would cut 1,250 positions this calendar year
"Just as our company passed the stress-test of the pandemic with record profits, the initiatives now underway, including an expected 5 percent headcount reduction, or around 1,250 positions this calendar year, will create a robust platform for future growth," CEO Robert Thomson said in the earnings release Thursday.
Thomson noted that despite "the obvious global challenges," its professional information business at Dow Jones, the publisher of The Wall Street Journal, saw revenues surge. Revenue for the overall Dow Jones segment was up 11% this quarter.
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