Per Bloomberg Top News: "Murdoch's News Corp to cut 5% of staff after earnings plunge."

[JohnSJ]

“The reductions are ‘a necessary response’ amid a ‘surge in interest rates and persistent inflation’, Chief Executive Officer Robert Thomson said on the New York-based media conglomerate’s second- quarter earnings call Thursday.
Employees will be let go across all the group’s businesses, which include the Wall Street Journal, publisher Harper Collins, and The Times, and The Sun newspapers in the UK, according to Thomson.”

[Johnny2X2X]

1. Interest rates

Dude is excusing his own mismanagement by blaming interest rates for his layoffs. Interest rates and inflation have nothing to do with these layoffs.

[Lovie777]

2. We know that ......

but fake news' cult will believe it.

[JohnSJ]

3. +++

[getagrip_already]

4. make it sound complicated, throw in something that people will relate to, and go home....

I'm sure they considered a lot of factors like energy costs, supply chain issues, etc, but they would never throw in mismanagement, the political impacts on ad dollars, or ethical lapses costing huge legal fees.

They just chose those to confuse people and let them relate in some funky way. People are fweaking out over 5% home mortgages (they were 17% when I started looking for my first home - 5% was what our pre-boomer parents parents paid).

This is what they are expert at.

[Johnny2X2X]

5. Exactly!

Interest rates right now are near to historical averages. I remember buying a home in the early 90s and having people be jealous we got a 6.5% interest rate.

The same people and organizations who whined incessantly about the "cheap money" that was driving the economy when interest rates were near zero are the same ones freaking out now that rates are back to normal.