Layoffs at The Wall Street Journal

Wall Street Journal. (AP Photo/Matt Dunham, file)
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The Wall Street Journal has laid off a chunk of its newsroom staff in recent weeks, the paper confirmed today.

The New York Times reported that between 20 and 40 employees were let go; two sources familiar with the cuts tell Capital the number was closer to 20 than 40.

Reached for comment, a Journal spokeswoman declined to confirm any of the details. She reiterated a statement provided to Capital last week when we reported that John Seeley, founding editor of the paper's Greater New York section, had been let go.

"In recent weeks we have been evaluating many areas of the newsroom to target areas for growth and deploy our resources globally in order to operate efficiently and profitably," the statement read. "As a result we will be eliminating certain positions."

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The cuts come as the Journal's parent company, News Corp., is entering a new fiscal year. The paper celebrates its 125th anniversary this month.