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Would Laying Off Workers be Beneficial or Detrimental to News Corp.?

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Healthcare Provider Update: Healthcare Provider for News Corp: News Corp employees typically utilize the health insurance plans provided through the Affordable Care Act (ACA) marketplace, as well as any employer-sponsored health insurance options that may be available. Potential Healthcare Cost Increases in 2026: In 2026, employees at News Corp could face significant increases in healthcare costs as premiums for ACA marketplace plans are predicted to soar. Factors such as rising medical expenses, the potential end of enhanced federal premium subsidies, and aggressive rate hikes from major insurers could result in an average premium increase exceeding 75% for many enrollees. Specifically, some states may witness individual market hikes as high as 66.4%. This combination of factors is set to strain budgets and access to affordable healthcare for many employees. Click here to learn more

Wesley Boudreaux, Financial Advisor at The Retirement Group, a division of Wealth Enhancement Group: 'News Corp. employees should see layoffs not as the end of the road, but as a fresh start, a chance to reset their career and financial goals. It is especially important to concentrate on individual development and strength during such moments,' notes Wesley Boudreaux from The Retirement Group, stressing the importance of an active attitude towards change in the workplace.

Patrick Ray, Financial Advisor at The Retirement Group, a division of Wealth Enhancement Group: 'Due to the recent layoffs, News Corp. employees need to focus on the future and develop a solid plan for their career and financial future. According to Patrick Ray of The Retirement Group, it is now more important than ever to build professional and financial diversity in order to improve job security and financial position,' noting that people must get ready for the uncertainties that are likely to come in the job market.

In this article, we will discuss :

1. The direct and indirect effects of layoffs on employees’ work output and organization culture, and how layoffs are usually detrimental to the remaining employees and the organization as a whole.

2. Options to layoffs recommended by professionals and other ways, such as job internal movement and executive salary reductions, based on the models that demonstrate the strategies that companies can employ during the economic downturn.

3. The psychological and emotional processes that employees who have been laid off from News Corp. companies should undergo, with a particular focus on the need for self-care and the importance of not relying on a single identity to cope with job loss.

News Corp. employees may wish to consider how research and workplace experts have concluded that mass layoffs are likely to be damaging for a company in the long term. Layoffs.fyi reported that in the first two months of the year, 366 tech companies had laid off 107,370 employees.

The overall picture: A study found that after layoffs, those who stayed in their positions tended to perform worse and were less satisfied with their jobs, especially in research-intensive industries. In addition, layoffs can enhance turnover; people – usually the best ones – do not want to work on a losing team. Recently, there has been a reported trend of people ‘rage-applying’ for other jobs.

  • The level of fear that comes with firing can also harm the climate. For example, in Bloomberg’s Sarah Green Carmichael, ‘Survivors may respond to a layoff by defending their territory or by speaking more frequently to prove their knowledge.’

Yes, but at times, layoffs are necessary, particularly if a company cannot cover its expenses or if it expects to grow at a slower rate.

In addition, News Corp. employees should review how Kevin Delaney, CEO of Charter, a media and research firm that advises businesses on talent strategy, recommends that highly profitable tech companies may not want to lay off workers in a tight labor market.

  • The technology sector remains a growth area. Can these companies ever need to employ people in the future? The answer is always yes.'

However, there are other ways to deal with layoffs, for instance, by assigning employees to other positions within the company, which Zapier is currently testing. Companies can also decide not to replace outgoing employees. Delaney also highlights that there is the possibility of managerial furloughs and cuts in salaries.

Things to Consider When Experiencing a Layoff

To the previous News Corp. employees, being laid off is clearly a nasty thing that happens in the workplace. It is possible to have difficulty in transitioning, which can increase levels of negativity and decrease levels of productivity. Some of the emotions that are likely to be experienced by people who have been laid off include fear, negative self-image, and feelings of worthlessness.

Although one is allowed to have such feelings, it is important not to let them control one’s life. Worrying too much about such kind of thoughts may hinder you from moving forward to a better future and may even make you do something you may regret. It is not recommended to complain about your previous employer on social network sites right after being fired. As a former employee of News Corp., even though they may be in the wrong, there is much to be lost on your end. Giving the 24 hours to elapse will give you a chance to reduce the intensity of the feelings that you are experiencing.

The ability to allow oneself to be consumed with anger and to send nasty e-mails will make you a victim and this will affect your job-hunting efforts in the future. Moreover, one should understand that when being angry and feeling betrayed, one looks like the perpetrator, which is not helpful at all in an interview.

Some of the previous News Corp. employees may also want to choose their words carefully and only use them to people they can trust. “Don’t do to the people around you what you are doing, that is, crying, being angry and aggressive, and shouting at people. You are directing it at your friends and family who love you and had nothing to do with this event. This is not the way you should release your feelings.” Dr. Jantz advised.

Coping Strategies for News Corp. Employees

For those with overwhelming feelings, it is crucial that those who have worked for News Corp. practice good self-care and be strong. It may be useful when angry to try to improve your diet, your sleep, and your physical activity. Walking, exercising and working are all methods which can be used to help release anger. Also, other ways of coping with strong negative emotions are not to resort to self-destructive behavior, not to blame oneself for what has happened, and to write down feelings. One must also refocus and reevaluate what must be done to fortify and increase well-being. Those who used to work in News Corp. can be isolated, to stay at home and not to leave the house, and to become depressed.

Although it is helpful for the employees of News Corp. to consider work as part of their identity, it is dangerous to make it the only part of who you are. A study in the journal Frontiers of Psychology revealed that people who described themselves as workaholics felt dehumanized, as if they were machines or tools, and had higher levels of disengagement, depression, and burnout. Hence, it is possible that News Corp. employees may gain benefit from understanding the theory of self-complexity. Self-complexity is the complexity of the characteristics that define who you are in your everyday life.

The more complicated your self-identity, the more resourceful you are. That’s why it’s important to think about building your self-esteem and not in the way of your finances. You can build your self-identity and develop your self-complexity across the various aspects of your life. That way when things at work aren’t going well, you don’t lose your entire sense of self. You might decide to spend time on your hobbies, your spirituality or your health.

As for the people who have worked for News Corp. it is possible that resilience and the search for improvement will help reduce feelings of depression and anxiety that come with being laid off. It is important to ask oneself: “Am I angry and resentful? Has fear and worry taken over my life?” Give positive encouragement to convince yourself that there is nothing wrong with you and that you are going through a rough patch in life.

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Sources: 

1. 'The Long-Term Impact of Layoffs on Company Performance: A Deep Dive.'  Cyphertech Blog . 10 Oct. 2024.  www.cyphertech.co/long-term-impact-layoffs .

2. Daily Report Staff. 'The Negative Long-Term Impact of Layoffs on Companies.'  Baton Rouge Business Report . 10 Oct. 2024.  www.businessreport.com/negative-long-term-impact-layoffs .

3. 'Mass Layoffs: Cost Cutting or Costly Mistake?'  Alp Consulting . 15 Sept. 2024.  www.alp.consulting/mass-layoffs-cost-cutting .

4. 'Understanding the Long-Term Effects of Layoffs.'  Fast Company . 15 Oct. 2024.  www.fastcompany.com/long-term-effects-layoffs .

5. 'Exploring the Hidden Costs of Layoffs.'  Hatchproof . 1 Oct. 2024.  www.hatchproof.com/hidden-costs-layoffs .

What type of retirement savings plan does News Corp. offer to its employees?

News Corp. offers a 401(k) retirement savings plan to its employees.

Does News Corp. provide matching contributions to its 401(k) plan?

Yes, News Corp. provides matching contributions to eligible employees participating in the 401(k) plan.

How can employees of News Corp. enroll in the 401(k) plan?

Employees of News Corp. can enroll in the 401(k) plan through the company’s benefits portal or by contacting the HR department for assistance.

What is the eligibility requirement for News Corp. employees to participate in the 401(k) plan?

Generally, News Corp. employees must be at least 21 years old and have completed a certain period of service to be eligible for the 401(k) plan.

Can News Corp. employees take loans against their 401(k) savings?

Yes, News Corp. allows employees to take loans against their 401(k) savings, subject to specific terms and conditions.

What investment options are available in the News Corp. 401(k) plan?

The News Corp. 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.

How often can News Corp. employees change their 401(k) contribution amounts?

News Corp. employees can change their 401(k) contribution amounts at any time, subject to the plan's guidelines.

Is there a vesting schedule for News Corp.’s matching contributions in the 401(k) plan?

Yes, News Corp. has a vesting schedule for its matching contributions, which means employees must work for a certain period before they fully own the matched funds.

What happens to the 401(k) savings if a News Corp. employee leaves the company?

If a News Corp. employee leaves the company, they can choose to roll over their 401(k) savings into another retirement account, cash out, or leave the funds in the News Corp. plan if eligible.

Does News Corp. offer financial education resources for employees regarding the 401(k) plan?

Yes, News Corp. provides financial education resources and tools to help employees make informed decisions about their 401(k) savings.

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