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takyon [soylentnews.org] writes:

Vice Media to Reorganize, Lay Off 10 Percent of Staff [hollywoodreporter.com]

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 [wsj.com] 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 [hollywoodreporter.com] on its Vice stake in November.

Also at TechCrunch [techcrunch.com].

Related: BuzzFeed to Cut 15% of Staff in New Round of Layoffs [soylentnews.org]
Over 1,000 Media Jobs Lost in One Day [soylentnews.org]

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