News Corp job cuts: Rupert Murdoch’s Australian newspapers to axe one in 20 staff

Announcement comes after global company posted 47% decline in quarterly earnings in news media

• Follow our Australia news live blog for the latest updates

• Get our morning and afternoon news emails, free app or daily news podcast

News Corp Australia will cut one in 20 staff at its local operations after Rupert Murdoch's global company posted a 47% decline in earnings in its news media division and lower quarterly revenue overall.

Mastheads the Australian, the Daily Telegraph and the Herald Sun are among those facing cost-cutting and a 5% headcount reduction after a decline in earnings for Murdoch's international newspaper stable of US$59m.

Sign up for Guardian Australia's free morning and afternoon email newsletters for your daily news roundup