(AP) The Wall Street Journal announced on Sunday that it will be reformating its Asian and European editions on Oct. 17 into an easier-to-read, compact format.
The iniatiatives will also involve combining the Asian and European print editions with the Wall Street Journal online at WSJ.com as well as relocating several news jobs from Europe and Asia to the United States.
The announcement is part of a series of changes that its parent company Dow Jones & Co. said will better serve the needs of its “highly mobile” international readers and its advertisers.
Dow Jones said that such changes will save the company approximately $17 million (euro13.1 million) annually, beginning in 2006.
In 2005, these savings will total about $5 million (euro3.9 million), before approximately $6 million (euro4.6 million) to $8 million (euro6.2 million) of cash restructuring and other one-time implementation costs.
Bob Christie, a Dow Jones spokesman, said that he does not forsee any “significant” layoffs.
“There will be a few layoffs. Most of this will be reshuffling of jobs,” he said in a phone interview.
As part of the repositioning of jobs, Frederick Kempe, editor and associate publisher of The Wall Street Journal Europe, will return to New York effective Aug. 1, in the new post of assistant managing editor, international, responsible for enhancing coverage for its print and online readers outside the United States.
Raju Narisetti, currently managing editor of The Wall Street Journal Europe, will succeed Kempe as editor.
Both Kempe and Narisetti will report to Paul Steiger, managing editor of The Wall Street Journal.
Some other news jobs will be relocated to the U.S. where the Journal is preparing to launch its Weekend Edition Sept. 17. – AP