In a memo entitled “The Course Ahead,” Vice Media Group CEO Nancy Dubuc announced a large round of layoffs to staff. The number includes 155 workers– 55 of whom will lose their tasks today. The remaining 100, on the other hand, will be release in the coming weeks. The figure consists of around 5%of the business’s general headcount.
Dubuc cites “difficult choices” in the memo, keeping in mind that the business has actually “done definitely whatever we could to protect these positions for as long as possible, and your time and contributions will permanently be part of who we are and who we will end up being.”
Vice’s union validated the figure, keeping in mind that the 55 are coming from U.S.-based operations, while the other 100 will be pulled from the business’s international operations.
LAS VEGAS, NV– JANUARY 10: A E Networks President and CEO Nancy Dubuc participates in a keynote panel on the future of video at CES 2018 at Park Theater at Monte Carlo Resort and Gambling Establishment in Las Vegas on January 10, 2018 in Las Vegas, Nevada. CES, the world’s biggest yearly consumer technology exhibition, runs through January 12 and includes about 3,900 exhibitors displaying their latest products and services to more than 170,000 attendees. (Image by Ethan Miller/Getty Images)
Vice is barely alone, of course. Even as more people have their eyes glued to computer screens and news reports, income has actually decreased throughout the COVID-19 crisis. Reporting on itself, The New York City Times noted its own profits battles, even as digital subscriptions have climbed up:
In keeping with a trend that has impacted other news organizations throughout the pandemic, The Times attracted brand-new readers while the cash it brought in from marketing dropped.
It’s a familiar and aggravating refrain across the board.
It’s true that publications suffer every time a slight gust of wind upsets the state of the economy, however the COVID-19 economic crisis feels various in practically every way.
Digital media has seemed like a precarious industry for a long time. The results of economic recessions and sensations of wonder about against media sowed by the White Home have made the last few years particularly challenging. The addition of the unprecedented uncertainty of COVID-19 is adding rocket fuel to that fire.
We’ve connected to Vice for comment.
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