Qatar-based media network Al Jazeera has announced that it is cutting 500 jobs.
It said the job reduction would affect posts worldwide but most of the losses would be in Qatar.
“Over the past few months, we have carefully evaluated every option available to the Network in order to ensure that we are best positioned in light of the large scale changes underway in the global media landscape,” said Mostefa Souag, the acting director general of the Network.
“Based on this review, we have embarked on a workforce optimisation initiative that will allow us to evolve our business operation in order to maintain a leading position and continue our recognised commitment to high quality, independent and hard-hitting journalism around the world.”
Launched as an Arabic-language news channel in 1996, Al-Jazeera has grown to include multiple channels and today boasts more than 70 bureaus worldwide.
However, Al Jazeera America announced earlier this year it would shut its cable news channel despite spending heavily to break into the US market.
CEO Al Anstey said the business model was “simply not sustainable in light of the economic challenges”.
It spent millions of dollars hiring top US journalists but struggled to bring viewers to its news programmes. The station also faced lawsuits from members of staff over allegations of sexism and anti-semitsm.