Wall Street Journal publisher Dow Jones has turned in financial results at the bottom end of its already reduced predictions, citing a slowdown in the advertising market for the poor performance.
As a result of the advertising downturn, Dow Jones has announced the axing of 202 jobs, instigated in an attempt to cut back on costs.
The news from Dow Jones was followed swiftly by an announcement that the New York Times publishing group, which has also recently issued a profit warning (see International), is itself cutting jobs in order to reduce costs. The slowdown in ad revenue was once again blamed for the unspecified number of job losses.