January 30, 2009

Wall Street Journal may shed 50 jobs

New York's Wall Street Journal will hand out pink slips to an uncertain number of staff members next week, potentially around 50, numerous sources said.

The newspaper reported the rumor concerning job cuts included parallel cuts at Dow Jones Newswires and the possibility the Journal could close one or more bureaus.

The Journal has largely escaped the recent downsizing trend among U.S. newspapers. Last summer, the newspaper, owned by Dow Jones, cut 50 copy editing positions. But, the company recently said it would freeze salaries for 2009, prompting staff members to conclude more layoffs were around the corner.

Everyone's under this haze of anxiety, one staff member said.