There will be layoffs at the Wall Street Journal.
Capital New York reports that “a source with knowledge of the cuts said that today, fewer than 30 pink slips will be handed out, but that more will follow as the Journal proceeds with what multiple insiders have described in recent weeks as a broad reorganization of the newsroom with a focus on digital innovation and core coverage areas.”
The layoffs will apparently hit the WSJ’s editorial staffs in Europe and New York particularly hard. Here are more details from Capital:
A number of bureaus in Europe and Asia will be “reduced in size” while those in Prague and Helsinki will be closed. Additionally, “non-core blogs” will be shuttered, the small business group will be eliminated and the New York-based economics team consolidated. The personal finance team will likewise be scaled back.
The Journal apparently will beef up its digital focus after this round of layoffs. It is “in the process of creating dozens of new jobs in digital-journalism roles including mobile, interactive graphics and data,” according to Capital.
Much of the personal finance team was apparently laid off at some point Thursday, and other reporters took to twitter to vent.
However, it doesn’t look like the whole team was laid off. Jason Zweig, who writes about personal finance for the WSJ, tweeted:
Business Insider Emails & Alerts
Site highlights each day to your inbox.