Al Jazeera is cutting 500 jobs worldwide, the Qatar-based media network has announced.

The job reduction would affect posts worldwide but most of the losses would be in Qatar.

Acting director general Mostefa Souag said the decision was “difficult” but the group was “confident it is the right step”.

Al Jazeera, funded by the Qatari government, was founded in 1996 and has more than 70 bureaus worldwide.

The network described the latest move as “a workforce optimization initiative” in response to “the ongoing transformation of the media landscape”.

Mostefa Souag said: “While our decision is consistent with those being made across the media industry worldwide, it was difficult to make nonetheless.

“However, we are confident it is the right step to ensure the Network’s long-term competitiveness and reach.”

Earlier this year, Al Jazeera America announced it would shut its cable news channel despite spending heavily to break into the US market

CEO Al Anstey said the business model was “simply not sustainable in light of the economic challenges”.

Al Jazeera spent millions of dollars hiring top US journalists but struggled to bring viewers to its news programs.