News Corp Australia is set to slash hundreds of jobs, the Sydney Morning Herald reported. Announcement of the cuts could come Thursday, the paper said, citing sources close to News Corp who spoke on condition of anonymity.
Between 500 to 1,000 positions could be cut, the paper said, citing sources close to News Corp.
The cuts were aimed at moving more to digital and are also a reaction to the drop in advertising from the coronavirus pandemic, the paper said. News Corp declined to comment to the paper.
The Age and the Sydney Morning Herald had reported that News Corp brought on consultants Deloitte to help the company reshape its newspaper division.
News Corp Australia has investments in Australian media enterprises Foxtel, Fox Sports, the REA Group and AAP; global digital companies Storyful and Unruly, property services business HiPages and digital racing publisher Punters.com.au.