Southern Cross Media Group, a major Australian media company, has reduced its full-year earnings guidance due to a significant downturn in the advertising market. The company announced plans to eliminate between 250 and 300 positions by the end of June in response to the challenging economic conditions. This decision triggered a more than 6% drop in Southern Cross Media’s share price on Thursday. The cuts will impact various areas of the business as the company seeks to reduce costs. Southern Cross Media cited broader economic headwinds as the primary driver of the weaker advertising demand. This announcement reflects wider concerns about the health of the Australian media landscape and the impact of economic uncertainty on advertising spend. The company did not specify which divisions would be most affected by the job losses.