Media conglomerates News Corp and Fairfax are axing jobs and closing offices due to plummeting advertising revenues for their printed products.

News Corp will slash 55 journalist roles across its newspapers The Australian and metro titles The Daily Telegraph in Sydney, The Herald Sun in Melbourne and The Courier Mail in Brisbane.

Fairfax is following a similar vein, closing newspaper offices in its South Australian locations Bordertown and Kingston this month.

The cuts are the latest in a torrent of restructures for both News Corp and rival Fairfax as the organisations scramble to mitigate print revenue collapses.

The News job cuts are reportedly due to ‘advertising softness’ and News Corp chief financial officer Bedi Singh says weak ad turnover is to blame for the significant operational restructure.

“At News Corp Australia, advertising revenues for the quarter declined 30 per cent, as the marketplace was weaker than the prior-year quarter,” he says.

Fairfax is following a similar vein, closing newspaper offices in its South Australian locations Bordertown and Kingston this month.

The Fairfax SA closures signal the end of a long era for the two newspapers, which have been locally produced and printed for many years.

Kingston District Council Mayor Reg Lyon told ABC the newspapers were struggling with the usual narrative of online competition and sharp declines in print advertising and circulation.

"The main thing is we have kept the paper, but the downside is we lose an office and the support staff," he says.

The publishing giants have attributed decline in print revenues for increased pressure to alleviate costs with job cuts and closures.

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