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Vice Media to Reorganize, Lay Off 10 Percent of Staff
Vice Media is planning a reorganization that will include laying off about 10 percent of its workforce as the once high-flying startup looks to rein in an unwieldy business that grew quickly during the height of the digital boom.
Around 250 jobs are expected to be cut, a company spokeswoman tells The Hollywood Reporter, as the 2,500-person Vice reduces redundancies internationally and reorients to focus on growth areas like film and television production and branded content. All departments at every level are expected to have layoffs, from IT to finance to television.
[...] It is crucial that Vice, which the Wall Street Journal reported in November was on track to bring revenue between $600 million and $650 million in 2018, become profitable as investors get antsy for the company to find a buyer. Disney took a $157 million write-down on its Vice stake in November.
Also at TechCrunch.
Another link from AC: Newsflash: The Trump Curse? Vice Media Cuts 10% of Staff after HuffingtonPost & BuzzFeed Layoffs
Related: BuzzFeed to Cut 15% of Staff in New Round of Layoffs
Over 1,000 Media Jobs Lost in One Day
(Score: 1, Offtopic) by VLM on Saturday February 02 2019, @03:13PM (2 children)
Found a minor tpyo in the article, no biggie:
Was miss spelled and the corrected version is
Secondly I don't like to see it as "jobs lost" more as "start studying coding". Merely a glass half full glass half empty situation rather than a factual error as mentioned above.
(Score: 0) by Anonymous Coward on Saturday February 02 2019, @05:35PM (1 child)
As EF so politically incorrectly stated before, the propaganda money available for social justice outrage "reporting" seems to be drying up. These laid off "reporters" can go get $15 per hour jobs at their local McDonalds if they don't want to learn to code.
Now what will the Democratic Party's playbook be like for next year's election? Perhaps they will return to address issues faced by normal Americans again?
(Score: 4, Interesting) by jmorris on Saturday February 02 2019, @06:17PM
Looks like it might be literal propaganda. Spergs on 4chan found an interesting 160M allocation in the last Defense Authorization Obama signed for domestic propaganda operations. It was a two year funding that expired Dec 2018. About a thousand people laid off in Jan 2019. Work the math. About $80K per head for two years from a 160M pot of cash gets about a thousand people "fully comped" to occupy a cover position at a media shop.