In a bid to cut down $40 million of costs from Rupert Murdoch's Australian newspapers, 42 full-time equivalent (FTE) roles including journalists, artists and photographers are set to be cut. In doing this, workers in these roles have been offered the opportunity to take voluntary redundancies. If this doesn't occur then forced redundancies will have to take a place as a way of filling this quota. All this is taking place as falls in revenue from print advertising have got worse. Their move to acquire the Australian News Channel, producers of Sky News in Australia and New Zealand, may help see an end to these downcast times. However for a 'company that had shed 1,000 jobs in the 2012-13 financial year,' it'll seemingly take quite a lot for a real bounce back to occur.
- News Corp Australia is making 42 journalists, artists and photographers redundant in the latest round of cost-cutting in a bid to slash $40m from Rupert Murdoch’s Australian newspapers
- News Corp Australia suffered an 11% fall in advertising revenue in the first quarter
Falls in revenue from print advertising is something that has become quite commonplace within the newspaper industry. The impact of new and digital media shines through with this especially, as companies like Google and Facebook appear now as the culprits of this. This is representative of the fact that regardless of the company, whether it be as big as News Corp or not, no one is immune from the slow death of print media.
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