Fairfax investor Waislitz backs cuts

Original article by Damon Kitney
The Australian – Page: 23 : 25-Nov-15

Media reports have suggested that News Corp Australia intends to retrench 55 journalists, while there is speculation that further job cuts are planned at Fairfax Media. Businessman Alex Waislitz does not expect the quality of journalism to be affected by the job cuts, and he argues that it is essential for companies in "sunset industries" to reduce costs in order to survive. Waislitz holds around two per cent of Fairfax’s shares via Thorney Investment Group and Thorney Opportunities Limited.

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, THORNEY INVESTMENT GROUP AUSTRALIA PTY LTD, THORNEY OPPORTUNITIES LIMITED – ASX TOP, DOMAIN.COM.AU, IANGELS

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