Live: Up to 300 jobs cut at Southern Cross Media, ASX falls after Wall Street closed down

Southern Cross Media, the owner of the Seven network, is planning to reduce its workforce by up to 300 positions. This significant job cut comes as the company faces financial pressures. The news follows a downturn in the Australian stock market, with the ASX experiencing a fall after a negative close on Wall Street.

This development signals potential challenges within the media industry and could impact employment figures in the sector.