Pink slips coming at WSJ.com
Slowing ad spend claims more victims
Posted in Business, 29th March 2001 20:44 GMT
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Online newshound WSJ.com is to lay off staff as part of parent company Dow Jones' cost cutting campaign.
The site, which has 250 full-time staff - including 80 in editorial, will be hit by "a limited number" of layoffs, a Dow Jones representative said today.
The job cuts are part of a move announced earlier this month to save Dow Jones $55 million and $60 million during the year. The action, blamed on the slowing economy and a general softness in advertising spend, includes reducing the company's total headcount of 85,000.
The representative declined to say which areas of WSJ.com would be affected - or how many people would lose their jobs, only commenting: "We're not talking huge numbers".
"Most of the layoffs will happen in other areas [of the company]," she added.
More details have been promised for April 12, when the company is due to report its Q1 earnings.
WSJ.com has 535,000 subscribers, who pay $59 per year for the online service (or $29 if they already have the print subscription for The Wall Street Journal). ®
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