Rupert Murdoch’s News Corp. plans to lay off about 5% of its workforce, or about 1,250 workers.  News Corp.’s media brands include The Wall Street Journal, Barron’s, and the New York Post. News Corp. said that the current macroeconomic environment and higher interest rates have been hurting the company. On Thursday, the company reported a 7% decrease in its Q2 FY2023 revenue. Net income fell to $94M from $262M reported during the same period last year. Last month, Murdoch canceled the planned remerger of his two media empires, News Corp. and Fox Corp, citing the combination was not optimal for shareholders. News Corp. is in talks with commercial real estate company CoStar Group to sell its stake in Move Inc., the parent company of Realtor.com.