News Corp. announces it will cut 1,250 positions this year
Publishing timestamp: 2023-02-09 18:50:44
Summary
News Corp., owned by Rupert Murdoch, announced Thursday that it plans to cut 1250 positions, or 5% of its workforce, due to the tough macroeconomic environment and higher interest rates. Quarterly revenue decreased 7% to $2.52 billion from the year-earlier period. Last month, Murdoch and his son Lachlan called off a proposed merger between News Corp. and Fox Corp. and News Corp. is in advanced talks to sell its stake in Move Inc. to CoStar Group.
Sentiment: NEUTRAL
Keywords: fox corp. class a, business, business news, media, news corp class a, earnings,
Source: https://www.cnbc.com/2023/02/09/news-corp-layoffs-company-will-cut-1250-positions-in-2023.html