The Brooklyn, New York-based news and documentary media giant, Vice Media LLC, is cutting 250 employees out of the company and closing down its flagship weekly HBO program, sources tell the Wall Street Journal.
Vice is the latest major news media outlet in recent weeks to lay off hundreds of workers as part of massive downsizing to keep the companies afloat. A leaner organization is part of the company’s realignment of its entire global strategy.
The 250 Vice employees comprise about 10% of the company’s workforce.
HuffPo and BuzzFeed Layoffs
“Difficult Changes” was the subject line of the email sent out on January 23, by the CEO of BuzzFeed, in which the company chief Jonah Peretti announced layoffs that would affect about 200 employees or 15 percent of the company’s workforce:
Yep, it’s true. The entire national security desk at BuzzFeed News has been disbanded.
It wasn’t around for long, but for a year and a half we punched way, way above our weight and I’m fiercely proud of the work we did here under @markseibel.
— Vera Bergengruen (@VeraMBergen) January 25, 2019
Apparently, BuzzFeed has fallen on hard times, as the company said it would not be paying out employees’ already-earned PTO (paid time off) except for in California– a decision the company reverse quickly in the face of a vociferous backlash.
Layoffs at the innovative and award-winning NYC-based digital media giant were planned in a bid to make BuzzFeed profitable. The very next day (Jan 24) the Huffington Post Opinion Editor Bryan Maygers announced on Twitter that “HuffPost’s opinion section is no more. I and the rest of the team have been let go.”