Vice Media plans to cut 250 jobs — about 10 percent of its total workforce.
The Hollywood Reporter broke the news. When contacted by TechCrunch, a Vice spokesperson confirmed the story but declined to comment further.
This comes after a brutal couple weeks in the media business, as companies began the year with major cuts. BuzzFeed is trimming its staff by 15 percent. Verizon Media Group (which owns TechCrunch) laid off 10 percent of its workforce. And traditional media wasn’t immune, with Gannett eliminating as many as 400 jobs.
Alongside the broader industry issues, Vice has had a tumultuous year of its own. Reporting by The New York Times at the end of 2017 led to the departure of multiple executives. Nancy Dubuc, previously the chief executive at A+E Networks, replaced co-founder Shane Smith as CEO in March. And in November, the company instituted a hiring freeze aimed at cutting the workforce by up to 15 percent.
According to the Hollywood Reporter, once Vice executives had created their strategic plan for 2019, they decided to complete those cuts with layoffs. Every department of the company will be affected, but the goal is to allow Vice to focus on growth areas like branded content and film and TV production.
“We will make Vice the best manifestation of itself and cement its place long into the future,” Dubuc said in a memo sent to Vice staff.
from TechCrunch https://tcrn.ch/2UA35aN
No comments:
Post a Comment