Qatar's Al Jazeera broadcasting network is planning to layoff off 500 employees due to the impact of low global prices for oil and natural gas on economy. Al Jazeera is founded in 1996, which is controlled by Qatar's royal family.
It has won millions of viewers across the Arab world by offering free-wheeling, uncensored debate rarely seen on other local broadcasters. The network's chairman mentioned that it has to conduct layoffs to maintain its position in the industry. It was mentioned that it would also close its US cable news outlet less than three years despite of economic challenges in the US media market.
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