Rupert Murdoch's News Corporation will axe 55 journalism jobs across its Australian papers, including The Australian, The Daily Telegraph and the Herald Sun, as the global media conglomerate looks to reduce the impact of a soft advertising market.

It is understood that staff were being briefed this morning. Sources said that many of the redundancies will be voluntary, but not all.

News Corp's Rupert Murdoch (left) and chief executive Robert Thomson. Credit:Simon O'Dwyer

In its first-quarter results, revenue from News Corp's news and information services division, which includes The Wall Street Journal, The Sun and The Australian, fell 11 per cent to $US1.3 billion ($1.8 billion), while cable network revenue also declined, falling 11 per cent to $US124 million.

At the time, News Corp chief executive Robert Thomson blamed "advertising softness" in Australia and negative currency impacts for the drop in news revenue.