WSJ axes 50 editorial staff as production is revamped

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"The reasons for these changes are strategic, even if some of the benefits are economic," Thomson, the former editor of The Times, said in an email to staff.

The restructure involves scrapping at least five editing desks, amalgamating them into one "news hub" in New York.

"We will be posting the new editing desk jobs no later than tomorrow and genuinely encourage all staffers affected by this announcement to apply," Thomson wrote.

"About 50 positions will be lost, but staffers with the highest skill levels and the enthusiasm to acquire new skills will have a distinct advantage during the selection process."

Murdoch bought Dow Jones for $5.2 billion (£2.63 billion) last year amid strong opposition from staff at the Journal who feared an erosion of quality at the flagship.

Thomson said the new budget "includes an ambitious expansion of our web and international operations". He said the firm plans to add 95 journalists at Dow Jones Newswires in coming months.

"There is good reason for optimism," he said in his email.