Wall Street Journal Cuts 25 Newsroom Jobs, Shutters Fashion Group

NEW YORK — The Wall Street Journal, one of the last major U.S. daily newspapers to avoid deep cuts to its news gathering operations amid a historic industry downturn, is trimming about two dozen newsroom jobs.

Robert Christie, a spokesman for the newspaper's parent company, Dow Jones & Co., said the Journal will make cuts to both its reporting and editing staff through a combination of layoffs and buyouts as well as eliminating open positions.

In a memo to staff obtained by The Associated Press, Journal managing editor Robert Thomson said the newsroom has already lost 11 reporters through attrition, but 14 more jobs will be eliminated in a new restructuring effort.

Thomson said the paper's New York-based fashion and retail group will be shuttered, with some reporters and editors shifted to other bureaus.

The Los Angeles and Boston bureaus will each lose a job as well as the law, health and real estate groups in New York.

Thomson said there will be no cuts at Dow Jones Newswires.

"It is obvious to you all that we are in the midst of an unprecedented economic downturn," he said in the memo. "We are also in the midst of an unprecedented increase in our readership, in print and online, but a precipitous decline in print advertising revenue has forced a close examination of our structures and of our costs."

Newspapers across the country have been laying off staff at a precipitous rate as revenue dwindles, hit hard by the recession and a steady migration to the Web by both readers and advertisers.

But the Journal's overall head count has largely been spared.

The paper was bought out by Rupert Murdoch's News Corp. just over a year ago. Dozens of jobs had been cut as the print and Internet operations merged. But with the Journal beefing up its political and general interest news coverage, the newsroom grew by about 20 positions to roughly 760.

Comments

[larry278]

It couldn't be a cost cutting move to get more $ for his Rupertship's campaign to drive the NYT out of business or could it be his Rupertship's way of saying that he's given up on making the WJS a general interest paper? The WSJ was the USA's only financial newspaper of record before his Rupertship aimed for the general interest market. It was a profitable niche. Profitable niches are comfy & cozy in a recession. The money isn't bad either. Will the WSJ try to push the foundering FT out of the WSJ's old niche? Is Rupe confused?

[FairTalk]

It's neither liberal media bias, nor conservitive, or even far right wing bias; it's neither pro Israel or anti-Zionism bias,; nor is it pro Free Tibet or Pro China, it is the stench of the bias alone that has turned folks off. WSJ claims their readership is up, but their advertizing is down? Just whose falt is that? Bush's? Obama's? It is the WSJ and other MSM who went along to get along with the big fat Wall St Cats and their darlings in Cingress. Can't do fair reporting, then you have no one but yourselves to blame. Or, perhaps if WST cannot wean itself from bias in reporting, at least is shouldn't have been swayed by it's own bias.

[2garen]

Let us ask Amy Goodwin about how unbiased and fair the WSJ is now days....

[wordvarc]

The Journal's sprung a large leak and may be sinking.

WJ's credibility died as their editorial policy went from fiscally conservative to politically far right.

The Street is in chaos.

No one believes brokers, banks, investment houses, and corporations anymore.

Ostensibly a US rag, they are owned by a foreign ex-patriot.

Wall Street is now known to have been an industrious facade hiding elitist greed, manipulation, and criminality by a sham "financial industry."

[Cynth]

Too bad it's the news room and its talented journalists, and not some of the ultra-conservative (i.e. wrong or mistaken) editors.

[mellene]

Now we' know that the WSJ is headed for disaster when they have to cut their fashion group. It's curtains for them.

[unite4change]

I thought this deserved a repost:

http://www.openleft.com/showComment.do?commentId=146670


Short and interesting read.

[gavottes]

25 jobs?
This is not really a story affecting MOST of the world, is it?

Here is the press worrying about themselves - not news.

When corporations are getting rid of thousands?

[carnelld]

The last paragraph is of utmost importance. The Wall Street Journal is now owned by Rupert Murdoch's group News Corp.

This is the same group that owns Fox News. That is why lately, the WSJ has taken a sudden jump to the right with its editorials. They are spewing out right wing propaganda from what was one of America's most trust worthy newspapers.

Watch the WSJ.

[SamathaJ]

Issit hard to get an internship there? I saw a Summer Internship for an Event Production for ESPN http://jobstaxi.com/viewjob.php?jobid=109571 and also Kate Spade is also offering an internship.
http://jobstaxi.com/viewjob.php?jobid=111116 I'm very thorn. Any advice?Both are good company to begin with...

[Exit]

Must be the liberal media bias...

[brooklyncitizen]

There was a fashion group at the WSJ?
who'd thunk it?

[Dace]

Yes! Right wing hate machine crumbling - what great news. Now if only the f word network would follow suite.

[MontanaBlue]

I was an editing intern at the WSJ a few years ago, and met many good people in the newsroom. Many of those good people didn't agree with the pap written on the opinion page. So although the people at the top might be part of a "hate machine," rest assured that many in the newsroom are not. In fact, the WSJ newsroom comprised the most diverse group (race, ethnicity and gender) of professionals that I've ever had the pleasure to work with and learn from. (I know, ending a sentence with a preposition is bad form.) I send all my good wishes to those copy editors and paginators, and their editors. As a citizen of the world, an American and a journalist, I feel your pain.

[garbacue09]

Dear Rupe: Don't you just hate it when someone else is laughing all the way to the bank? ;0 P.S.: you do know what a solvent bank looks like, right?