Vice Media Lays Off 155 Employees With Deepest Cuts in Digital Group

18 Mai, 2020, 11:59 | Auteur: Auguste Feret
  • Vice Media CEO Nancy Dubuc with co-founder Shane Smith in 2019 seen with a Vice logo in back of them

Vice Media Group became the latest publisher endure a second round of cuts during the COVID-19 pandemic.

About two-thirds of the employees cuts (round 100) can be worldwide, with 55 layoffs affecting USA workers, Vice Media Group CEO Nancy Dubuc wrote in an inside memo Friday obtained by Variety.

Vice's digital group will be the most heavily impacted by the cuts. The worldwide layoffs will occur over the subsequent few weeks, whereas the Brooklyn-based firm's USA staffers can be let go Friday.

In the memo, titled "The Course Ahead", Dubuc wrote, "While losing even one job feels like too many, these decisions ultimately rest with me and I assure you that we went to great lengths to preserve jobs".

The digital organization accounts for about 50 per cent of the company's head-count costs but only generates about 21 per cent of the company's revenue, wrote Dubuc.

The Economist said it is eliminating 90 non-editorial jobs and Vice Media announced in an internal memo seen by Reuters that it will lay off 155 workers, reflecting an acceleration of the news media industry's decline during the global pandemic. By analyzing our business comprehensively, this imbalance must be addressed for the long-term health of our company. In addition, the company is moving "as many individuals as possible" over to the growing Vice News division.

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Dubuc wrote: "T$3 he squeeze is becoming a choke hold".

"We understand that the entire news industry is hurting", Vice Union's statement said.

The layoffs come after Vice Media applied belt-tightening strikes on the finish of March, extending for a 90-day interval.

Early in the pandemic, Vice Media instituted sliding scale pay cuts for staffers earning $100,000 or more, a suspension on promotions and a stop to 401 (k) matches for employees.

She referred to as for the media business to "stand together" within the face of "monopolies", whereas providing her personal newly laid off staff severance pay, their work-issued laptops and job search steering. Laid off USA employees will receive extended health benefits through the end of 2020, and Vice is creating an alumni group so that those affected can get "first-look access" to open jobs when they are available.



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