How a few ‘reporter-in-chiefs’ can save the ‘news business’

LONDON—Newsweek, the world’s biggest media company, says it has seen the “most dramatic shift” in its strategy in more than a decade as it seeks to cut costs and focus on profitability.

The company said it has begun laying off hundreds of employees as part of its efforts to reorganize its media business.

The newspaper company has struggled to stay competitive in a market dominated by the likes of Amazon and Netflix.

“Newsweek’s strategy has always been to invest in the future, not just invest in our current business,” said chief executive Edelman.

“That’s why we’re taking the extraordinary step of laying off our staff and closing a number of our newsrooms across the UK.”

While the move is aimed at reducing its financial risk, it will not affect newsrooms in the US, the company said in a statement.

The layoffs are part of a broader plan to reduce costs and shift the company’s focus to profitability.

While the newspaper company said its newsrooms are being reduced across the US and Canada, the UK and Canada it does not have an exact figure for how many newsrooms will be closed.

“We’re investing in our newsroom culture and the quality of our journalism and we’re building the next generation of our journalists to continue that mission,” said Neil Read, editor-in of The Observer newspaper in the UK.

“As the newspaper industry evolves, we are constantly looking for ways to ensure that we can remain competitive in the 21st century.”

The company announced in March that it would be closing several newsrooms, including the UK’s Sunday Express, and in June it announced that it was closing the Irish News Service, the flagship Irish newspaper, which is based in Dublin.

The move is the latest in a series of consolidation moves in the newspaper business, which includes the sale of the American business of News Corp., a newspaper publisher that has a presence in the United States, to AOL for $US70 billion ($95 billion).

Last year, News Corp. was forced to sell its News International operations after it was discovered to have illegally stored private information on users’ computers.

In May, News Corporation said it would sell its U.K. and Ireland news divisions to rival media company News UK.

In January, it said it was cutting 1,100 employees across the newspaper group, including 400 at its London headquarters.

Read said the company is “working with our journalists and stakeholders” to keep the newsrooms open in the event of layoffs.

“It is an incredible honour to join a company whose core values are transparency and fairness, and to be part of News Group’s legacy,” he said in the statement.

“Our newsrooms provide the UK with an iconic source of information for a wide range of audiences across the country, while also providing us with the unique opportunity to serve and inform the public.”

The newspaper group’s UK-based newspaper, the Observer, will be sold to News Corp and the paper’s European operations will be shuttered, as will the Irish newspaper’s U.S. headquarters.

The Observer is owned by Rupert Murdoch’s News Corp, and is the largest English-language newspaper in Europe.

In November, the paper reported that its profits had declined for the second quarter, as the impact of Amazon’s move to Amazon Prime streaming video services on advertising revenue dropped.

The publisher said that the impact on advertising revenues will be offset by increased subscriber revenue.

The paper’s U, UK and Ireland divisions will also be sold.