November 12, 2014

Radio Departments To Close December 31st

Dow Jones Eliminates WSJ, MKTW Radio Networks; WSJ Sunday Journal

During a meeting today with staff from Wall Street Journal and MarketWatch radio departments, WSJ editor in chief Gerard Baker announced the elimination of all Dow Jones radio operations and positions by the end of this year.

The move to shutter the radio division will result in the elimination of some two-dozen Union-represented positions effective December 31, 2014. Management and supervisory positions are also expected to be cut.

Headquartered in South Brunswick, NJ, The Wall Street Journal radio network has provided business news programming to radio stations across the United States for more than 30 years. Round the clock business reports are currently delivered to over 470 stations, while 200 stations currently subscribe to The Wall Street Journal This Morning program.

MarketWatch radio is based in Washington, DC and was acquired by Dow Jones & Company as part of the purchase of MarketWatch.com, finalized in January, 2005. Nearly 200 radio stations across the country subscribe to live business news from the MarketWatch radio network.

Both networks had been managed by executive editor, John Wordock since February of 2013. Three IAPE-represented WSJ radio positions were eliminated last year.

This is the first Dow Jones division with a Union presence to be eliminated since CEO William Lewis completed his "world tour" earlier this year. During those meetings with Dow Jones staff, Lewis repeatedly detailed his "three shared goals for this new financial year and beyond: three million subscribers for The Wall Street Journal globally, robust growth in our Professional Information Business, (and) rigorous cost management."

In an email memo today to all Dow Jones staff, Lewis also announced that "Sunday Journal from The Wall Street Journal, which provides content to partner newspapers each weekend, will come to a close over the coming months." Management has not yet informed IAPE of any job losses as a result of this move.

As we do whenever positions are eliminated via layoff at Dow Jones, the Union will review all layoff notices to ensure the Company has followed the terms of our collective agreement, and that affected employees receive the severance pay and post-termination benefits to which they are entitled.

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UPDATE: The elimination of positions at Dow Jones radio departments will result in the layoff of 23 IAPE-represented employees. One Union-represented position will be eliminated in Sunday Journal.

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Click here for a copy of today's memo to staff from William Lewis.

Click here for IAPE layoff information.

Click here for severance pay and post-termination benefits requirements.

Click here to calculate your severance.