Vice Media to cut 10 percent of workforce
NEW YORK (AP) — Vice Media is cutting 250 jobs globally as it seeks to achieve profitability. It is the latest round of layoffs as the media industry contracts.
The cuts affect about 10 percent of Vice’s 2,500 staff, said company spokeswoman Danielle Carrig. But she said Vice plans to add jobs as well in departments including sales and digital news as it focuses on its units with potential for growth.
The media industry has been facing a wave of layoffs as Facebook and Google gobble up the bulk of digital advertising dollars.
Also on Friday, newspaper publisher McClatchy said it will offer voluntary buyouts to 13 percent of its staff, about 450 people.
Digital media company BuzzFeed said last week it is cutting 200 people. Verizon is cutting about 800 jobs in its media division, which includes Yahoo and HuffPost.
Vice has grown from a Canadian magazine to a global media company based in New York. Some news outlets reported last year that the privately held company instituted a hiring freeze and might seek a reduction in staff through attrition, but that was not confirmed.
Vice will structure itself around its five businesses: studios, news, digital, TV and Virtue, Vice’s advertising segment. Its current structure is organized around its different international offices.
The Western Journal has not reviewed this Associated Press story prior to publication. Therefore, it may contain editorial bias or may in some other way not meet our normal editorial standards. It is provided to our readers as a service from The Western Journal.
Truth and Accuracy
We are committed to truth and accuracy in all of our journalism. Read our editorial standards.
Advertise with The Western Journal and reach millions of highly engaged readers, while supporting our work. Advertise Today.
