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Stitch Fix to Cut About 330 Jobs
Meta Platforms Inc.’s Facebook is re-examining its commitment to paying for news, people familiar with the matter said, prompting some news organizations to prepare for a potential revenue shortfall of tens of millions of dollars.
The company has paid average annual fees of more than $15 million to the Washington Post, just over $20 million to the New York Times and more than $10 million to The Wall Street Journal, according to people familiar with the matter. The Journal fee is part of a broader Facebook News deal largely negotiated by parent company Dow Jones & Co., including annual compensation worth more than $20 million, people familiar with the partnership said.
