Portfolio.com’s Jeff Bercovici says more cuts are coming to the Wall Street Journal:
Portfolio.com: According to multiple sources within and close to the Journal, the newsroom is due to undergo another round of personnel cuts late next week. It’s unclear exactly how many employees will be affected, but two sources put the number of people being targeted at 50. (If, as seems likely, that is the number of people on the list to be offered buyouts, then the actual number of jobs eliminated could be substantially lower.) It’s also rumoured that there will be parallel cuts at Dow Jones Newswires, and that one or more Journal bureaus may be eliminated as part of the cutbacks. A Dow Jones spokeswoman declined to comment.
These layoffs follow summertime firings when the WSJ dropped 50 copyeditors from its New Jersey office. Dow Jones, a News Corp (NWS) subsidiary, will also freeze pay raises in 2009.
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