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posted by martyb on Friday January 25 2019, @03:16AM   Printer-friendly
from the YOUR-name-here! dept.

The media industry's current round of cuts and consolidation is accelerating. Sizable layoffs at Buzzfeed, Gannett and Verizon Media (home of AOL, Yahoo, HuffPost and others) were announced Wednesday, totaling over 1,000 jobs cut.

Why it matters: If the headlines signal anything, it's that the news media will continue to struggle to find a sustainable business model in an advertising and attention ecosystem dominated by tech companies like Google, Facebook and Netflix.

By the numbers:

  • Verizon Media will cut roughly 800 jobs, or 7% of its global workforce across the organization, as well as certain brands and products. Verizon CEO Hans Vestberg told Axios earlier this month that each of the company's three units, including the media business, needed to be able to stand on their own. (A company spokesperson later clarified to Axios that Verizon Media Group will still have access to Verizon customer data when customers opt in to provide such information.)
  • Buzzfeed will cut roughly 250 jobs, or roughly 15% of its workforce, including jobs within its news division.
  • Gannett cut over 20 jobs Wednesday, per Poynter, with more expected as the company tries to shed costs amid buyout talks.

[...] Bottom line: Many news companies are struggling to find sustainable business models in the digital era. There's no sign it's getting any easier.

https://www.axios.com/digital-media-layoffs-consolidation-continue-1548289098-d3bd0e23-aef7-4ad5-8778-428391e80ac8.html

Previous: BuzzFeed to Cut 15% of Staff in New Round of Layoffs


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  • (Score: 4, Interesting) by Anonymous Coward on Friday January 25 2019, @04:25AM (1 child)

    by Anonymous Coward on Friday January 25 2019, @04:25AM (#791607)

    You are not wrong. But think of what these jobs basically were.

    They are little more than rumor mongers. They sit in their ivory towers and chuck stones at people for just 'looking' the wrong way.

    Their job is to embellish things they may or may not have seen themselves.

    "news" has devolved into little more than people yelling at each other over things they heard someone else say about someone else. Their monetary value is rapidly shrinking. They wanted to pretend they were the keepers of truth. But we have learned it is not necessarily what is true they are telling us but what they want to convince us to believe.

    If you had told me 20 years ago that CNN would be publishing in the way they are now I would have laughed in your face and thought you a loon job. Yet here we are.

    The current administration has zero motivation, and less than zero capability to get any of this mess under control. Maybe it has made some marginal improvement in the MIC, but it's sure hard to see if they really have.
    The thing is it is these very people who have stated openly they hate him. Telling us he is a 'do nothing'.

    From where I sit their tabloid news gotcha journalism is what is doing them in. In their mad rush to have 'first post'. They have conveniently forgot to actually check anything. When you have a major news anchor standing in a ditch up to his waste in water telling us how bad the weather is and his camera crew is standing in a puddle you start to question their motives in lying... about the weather?!

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  • (Score: 2, Insightful) by Anonymous Coward on Friday January 25 2019, @05:29AM

    by Anonymous Coward on Friday January 25 2019, @05:29AM (#791623)

    The more SJWs learning the basic life lessons they demanded to be protected from in their liberal arts degree programs, the better.