Wall Street Journal hit with layoffs that could top 100

The Wall Street Journal was hit with wide-ranging layoffs Thursday as its parent company, News Corp., puts a focus on digital news gathering.

Cuts could top 100, according to CNNMoney.

In an internal memo, Wall Street Journal editor Gerard Baker cited "the rapid spread of free news and content, the ascent of digitally native media companies that compete with us for readers and advertisers and even purloin our journalism."

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