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AAP
AAP
Business
Jacob Shteyman

News Corp to slash hundreds of jobs as earnings crash

News Corp Robert Thomson Inflation Interest Rates
News Corp CEO Robert Thomson has blamed interest rates and inflation for the slump in earnings. (Lukas Coch/AAP PHOTOS) (AAP)

Rupert Murdoch's News Corporation has vowed to slash jobs after a sharp drop in second-quarter earnings.

The media conglomerate reported on Friday a 64 per cent decline in income in the quarter ending December 31, down to $US94 million ($A135 million) from $US262 million ($A376 million) the year prior.

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