News Corp Australia, Australia's largest media conglomerate, in its latest round of redundancies is reducing up to 25 newsroom positions.
According to reports, News Corp is cutting down 10 roles from the Australian, which includes 6 from NSW and four from Victoria. Sydney’s Daily Telegraph saw a slashing of 2 roles and 3 positions will be eliminated from the company’s news network. Regional and community divisions like Geelong, regional Queensland, Hobart, northern NSW, and South Australia will face a loss of 10 roles. This is being done to further elevate the company’s strategy to continue to consolidate its business for future growth.
The latest round of redundancies has been agreed upon as the company began a restructure to focus on digital and fired many people from their jobs for cost-cutting last year. Hundreds of jobs were lost as many communities and regional-based newspapers switched to digital-only platforms while the others were pulled up. However, News Corp has refused to comment on the recent job cuts.
Robert Thomson, News Corp chief executive apprised that the company reported a 30% surge in revenue to $US2.49 billion making 2021 financial year the most profitable year since its inception in 2013.
Adam Portelli, media director at journalists' union the MEAA, said that the News Corp must reconsider the proposed job cuts as it is set to reap millions of dollars from deals with Facebook and Google under the News Media Bargaining Code. He felt that it must be invested in journalism.
Last month, News Corp had cut up to 50 jobs in its commercial divisions after consultant firm McKinsey & Co was hired to advise on a restructuring program.