The layoffs, which were first reported by The New York Times, come six months after Dow Jones CEO Lex Fenwick abruptly resigned amid what the company described as a change to "institutional strategy." Anywhere from 20 to 40 staffers were laid off, including veteran reporters and editors, according to the Times report.
In a statement, Dow Jones said it had been "evaluating many areas of the newsroom to target areas for growth and deploy our resources globally in order to operate efficiently and profitably."
"Unfortunately, as a result we will be eliminating certain positions," the statement read. "As ever, we remain focused on ensuring that we have the right reporting and editing capabilities while continuing to maintain the Journal's high standard of excellence."
Comment: Well at least, such as the WSJ's 'standard of excellence' may be. One wonders if this move towards 'right reporting capabilities' is connected to this:
Computers to take on writing duties at AP news wire