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Because of the challenging state of the economy and the increase in interest rates, News Corp. has revealed that it intends to eliminate more than one thousand employees. Foxtel, a supplier of multiple video channels in Australia, received high acclaim from the company's chief executive officer, Robert Thomson, for their transition to streaming. The corporation has cited a number of decreases, particularly in its news division, as reasons for the layoffs, and there is a possibility that the cuts would touch roughly 1,250 individuals. In January, Rupert Murdoch, the executive chairman of News Corp and the co-chairman of Fox, decided not to proceed with the deal. The corporation has indicated that all of the layoffs will be finished by the time the year comes to a close.
