On the heels of The Wall Street Journal revamping its newsroom, Dow Jones has announced that layoffs could be coming soon.
Dow Jones execs “have have told the union representing its [Journal] employees that it is preparing to restructure operations amid volatility in the ad market.”
The Journal’s union, the Independent Association of Publishers’ Employees (IAPE), has been negotiating with Dow Jones for the past few months on new contracts. The IAPE reps roughly 1,300 Dow Jones staffers.
Aside from layoffs, Dow Jones is considering a number of options to cut costs. The Journal might combine or eliminate sections and/or reduce the number of pages it publishes. Execs are also thinking of closing “noncore projects.”