News Corp job cuts: Rupert Murdoch’s Australian titles to axe one in 20 staff

Announcement comes after global company posted 47% decline in quarterly earnings in news media

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News Corp Australia will cut one in 20 staff at its local operations after Rupert Murdoch’s global company posted a 47% decline in earnings in its news media division and lower quarterly revenue overall.

Mastheads the Australian, the Daily Telegraph and the Herald Sun are among those facing cost-cutting and a 5% headcount reduction after a decline in earnings for Murdoch’s international newspaper stable of US$59m.

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