The news was shared with Dow Jones staffers in an internal memo from Robert Thomson, editor in chief of Dow Jones & Co. and managing editor of The Wall Street Journal.
“The economic background to the closure is painfully obvious to us all,” Thomson said in the memo. “An investigative function will remain in Boston, but the core reporting team will be disbanded, though all nine reporters affected will certainly be able to apply for openings elsewhere on the paper.”
The Newswires bureau and the MarketWatch team in Boston will not be affected. Coverage of the Boston mutual fund industry will switch to Dow Jones' Money and Investing team, and Dow Jones will create an enhanced New York-based education team, Thomson said.
“Any such decision inevitably stirs apprehension and uncertainty, but there are no plans—nascent or otherwise—to close any other U.S. or international bureau,” he said. “That there has been truly great reporting under the generalship of [bureau chief] Gary Putka out of Boston over many, many years is not in doubt. But we remain in the midst of a profound downturn in advertising revenue and thus must think the unthinkable,” Thomson said.
The closing of the Boston bureau will leave The Wall Street Journal with 15 US. and 23 international bureaus.