LONDON (Brand Republic) - The online version of the Wall Street Journal has become the latest in a string of online content sites to lay off a number of staff in an effort to cut costs as the advertising market slows.
There is no news on how many staff will go at the site, but it follows layoffs last week at rival financial news site CBSMarketwatch.com.
The WSJ.com is insulated to some degree against the slowdown in advertising as it derives part of its revenue from online subscriptions. The site, which charges an annual fee of $59 (£41), pioneered online subscription and has been seen as a model by some of how to generate additional revenues.
However, few of WSJ.com鈥檚 rivals have taken up the challenge and introduced subscription charges. The Financial Times website, FT.com, has been reported several times to be considering the idea. Pearson, FT.com owners, recently announced that it would be cutting back investment in the site.
Earlier in March, Dow Jones warned that its first-quarter earnings would be below expectations as a result of the US slowdown in advertising.
www.wsj.com
www.cbsmarketwatch.com
www.ft.com