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Summary:

A recent cost-cutting regimen at Dow Jones’ Enterprise Media Group won’t save the unit from layoffs, according to a memo obtained by Talking…

A recent cost-cutting regimen at Dow Jones’ Enterprise Media Group won’t save the unit from layoffs, according to a memo obtained by Talking Biz News. Clare Hart, EMG’s president, which houses Newswires, Factiva and DJ Indexes, sent an email to staffers outlining the steps the unit has taken — cutting travel, leaving vacant posts unfilled, holding off on investments — and why it hasn’t been enough.

While Hart did not specify the number of cuts or whether it would be evenly split among the three units, a DJ rep told me that “no Dow Jones (NYSE: NWS) Newswires journalists are affected.” The memo came the same day the News Corp unit announced that Times of London U.S. editor Gerard Baker would be stepping into the new role of deputy editor in chief of the Wall Street Journal and Dow Jones.

Apart from the job losses, Hart also said that EMG is creating “shared services” within its Product and Technology, Marketing, Customer Service, Content and Operations groups, meaning a lot more work for those who remain.

  1. As employees are handed pink slips, an employer like a bank or a brokerage may be prudent to retain their e-mail records. The records are a valuable asset to the employer. –Ben http://legal-beagle.typepad.com/wrights_legal_beagle/2008/10/retain-e-mail-of-former-employees.html

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  2. Steve Olivier Tuesday, May 12, 2009

    What a laugh, "a lot more work for those who remain." Those that remain have been working at a practically in-humane pace for the last year or so.

    I was laid off yesterday from The Journal as an art director in marketing. No marketing department anywhere could produce the volume, variety, the results and the quickest turnaround time in the business to support the Journal sales staff that we did. I even designed unique ad units that no other publication offers on my own time to help "my company" in these difficult times and they are selling. Corporations look at paper, not people.

    Anyone out there that needs someone whose work ethic, talent and ambition contributed to the Journal actually gaining market share and grow circulation in these difficult times, feel free to contact me, my services are available,
    Steve Olivier
    molivier@optonline.net

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  3. In this recession, employee productivity has risen. We’ve discovered that technology is enabling fewer people to do any given unit of work. E-mail is the employer’s institutional memory. As the workforce changes, the employer needs that memory so that present employees and contractors can look back and see what their predecessors were doing in previous years.

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