Wall Street Journal Closes Boston Office

The Wall Street Journal has announced that it will close its Boston bureau to save money and that the publication will shift its coverage of the mutual fund industry to its money and investing reporting team.

From Reuters:

“The economic background is painfully obvious to us all,” Journal Managing Editor Robert Thomson told the paper’s employees in a memo. “That there has been truly great reporting… out of Boston over many, many years is not in doubt. But we remain in the midst of a profound downturn in advertising revenue and thus must think the unthinkable.”

News Corp, which owns the Journal, will keep sister news organizations Dow Jones Newswires and MarketWatch in Boston, the memo said. An investigative reporting operation for the Journal will remain too, Thomson said.

Nine bureau reporters at the Journal would have to apply for other jobs, the memo said.

A Journal spokesman declined to say how much money the closure will save. There are no plans to close other U.S. or international bureaus, Thomson wrote.

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One Comment on “Wall Street Journal Closes Boston Office”

  1. Ina Says:

    I just heard the US are out of recession as of today.
    So perhaps the worst is over? 🙂


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