News Corp Plans Australia Job Cuts

Date : 06/20/2012 @ 1:10AM
Source : Dow Jones News
Stock : News Corp. (MM) (NWSA)
Quote : 14.02  0.09 (0.65%) @ 2:20PM

News Corp Plans Australia Job Cuts

News Corp. (MM) (NASDAQ:NWSA)
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MELBOURNE--News Corp.'s Australian unit, News Ltd., said Wednesday that jobs would be cut across its business as part of a restructure aimed at transforming the company to better meet a digital world.

Chief Executive Kim Williams said in a statement and in a video address to staff that he couldn't say how many jobs would be lost.

"Although there will be retrenchments, many roles will be retired through natural attrition," he said. Mr. Williams said one of the changes would see the company move from having 19 operating divisions to five.

News Corp. is the owner of Dow Jones Newswires.

Write to Gavin Lower at gavin.lower@wsj.com

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