News Interactive, the online division of media giant News Ltd, has announced a restructuring of its Internet operations, leading to the loss of staff.
The restructuring will involve some staff reductions and transfers to other News Limited businesses. However, the number of people affected by the cuts has not been disclosed.
In a statement, News Interactive Managing Director Patrice McAree said the company would better integrate its operations with those provided by News Limited.
"In our first phase we were a rapid growth start-up operation building large scale Web sites from the ground up.
"While continuing as an independent operation, the business will now be a fully-integrated online service for News Limited, better suiting current market conditions."
According to McAree, joint ventures such as the recent 44 percent acquisition of portal realestate.com.au would continue to be pursued.
The story was carried on News Limited's Australian IT site, which listed those entities hit by the restructure, including news.com.au, Australian IT, careerone, gofish and FOX Sports.
