News Corp to cut jobs as pandemic hits ad revenue

By Mariam Cheik-Hussein | 26 March 2020
News Corp's Australian papers

News Corp Australia is cutting staff numbers, and reducing work hours, as the coronavirus eats into advertising revenue. 

The Australia executive team will also take pay cuts, executive chair Michael Miller told staff.

The company, Australia's biggest publisher of newspapers and news sites, did not give numbers on jobs to go or the reduction in total hours worked. 

Miller says the pandemic has led to an increase in readership but business confidence has impacted advertising revenue.

In response, Miller says the executive team will take “significant '' pay cuts, while staff will be directed to reduce their work hours, including moving to part-time, nine-day fortnights and taking annual or long service leave.

However, job losses are “inevitable”.

“I want to assure you that my priority is to preserve as many jobs across the company as possible, but it is now clear that some job losses will be inevitable,” Miller says.

“Together we need to move quickly to do everything we can to secure the health of our business and retain jobs.”

Additionally, the publisher has stopped all travel and entertainment, as well as industry events such as its annual Come Together.

Miller told staff the new arrangements will continue to the end of May, with regular reviews.

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