Blog Post

Dow Jones Restructuring Enterprise Group; Lays off 98 Employees

Updated: The company is eliminating 98 jobs…this included management roles, and 62 were layoffs while the rest were open positions.
Dow Jones is restructuring its enterprise media group, following the completion of its full buyout of biz info service Factiva. Clare Hart, the EVP who currently heads the group, will remain in charge following the reorg, but the group now consist of three divisions: Dow Jones Indexes and Reprints, Dow Jones Financial Information Services and Dow Jones Content Technology Solutions. The first two had been there from before and will operate as usual.
The third division, Content Technology Solutions, is a new one, formed by merger of Newswires, Licensing Services and Factiva into it. This unit “will develop and offer content and technology solutions that allow professionals…to use news and business information in ways that create opportunities and financial gain”, the company said in a statement.
Some exec changes too: Simon Alterman was appointed SVP, Strategy and Business Development for this group; others are detailed in the release here.
AP: The company also plans to do some layoffs in this division, which AP says quoting union sources will be around 21 people (see above).
Dow Jones bought Reuters’s 50 percent stake in news database Factiva in a $160 million deal earlier last year.