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WSJ shuts Boston bureau It's just the most recent example of this month's deep job cuts Oct 30, 2009 There are hints that the economy is turning around, from the rise in GDP to more encouraging corporate results during third quarter. But that recovery has clearly not extended to print media, which has been battered not by the swine flu but by a series of substantial job cuts or job cut revelations over recent days. The latest news came yesterday from the Wall Street Journal, which is closing down its Boston bureau nearly two years after News Corp. acquired Journal parent company Dow Jones. In an internal memo, editor in chief Robert Thomson blamed the closure on "a profound downturn in advertising revenue" that has hurt virtually all media but especially newspapers and magazines. Nine reporters will lose their jobs, though they can apply for work elsewhere in the company, Thomson said. Roughly 50 have been laid off since News Corp.'s acquisition. The Journal was hardly the only publication making tough decisions this week. Word came yesterday that the rumored Time Inc. layoffs, expected to happen in the coming weeks, could affect up to 100 people. That's how many Forbes reportedly laid off earlier this week in its third round of cuts this year. The New York Times is also looking to eliminate 100 positions, though some may be achieved through voluntary buyouts. And Condé Nast has eliminated almost double that many jobs this month, closing down four magazines and instituting staff reductions at many others after ad revenue fell some $1 billion this year.
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