News Corp To Cut 200 Jobs As Part Of Global Cost-Cutting Strategy

Published on: 13th March 2023 at 10:15 AM

Sofia Geraghty

1 Min Read

According to reports, News Corp is going to cut up to 200 jobs as it launches a global cost-cutting drive.

According to the Australian Financial Review, News Corp is shifting its strategy from increasing subscribers to cutting spending amid fears of a reduction in consumer spending.

News Corp owns The Daily Telegraph, The Herald Sun, The Australian and Vogue Australia.

Australian executive chairman at News Corp, Michael Miller, had previously spoken about a “pay and stay” approach to the company’s media assets, where readers subscribe and stay for a long time.

According to the AFR, however, he flipped the switch at a company-wide town hall last week, changing the phrase to “stay and pay”, emphasising the importance of retention.

The news comes after global CEO Robert Thomson announced a 5 per cent reduction in global headcount last month, which would save $US130 million ($197 million) and cut 1250 jobs.

By Sofia Geraghty

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Sofia is an award-winning B2B journalist with experience in investigative journalism and TV presenting. She worked as a journalist at the UK’s leading insurance publication before moving to TV presenting within financial services. She is passionate about equality and female empowerment and was awarded an industry-wide broadcast media award (and was shortlisted for another) for her work in promoting diversity within the insurance industry.