Vice Media is to lay off 250 people in the latest blow to a new generation of media companies that rapidly expanded only to run into an uncertain advertising environment.
The cuts will affect 10 per cent of its staff and come after a tough few weeks for news organisations, which brought job losses for journalists at BuzzFeed, Huffington Post and Gannett, the newspaper publisher that owns USA Today.
Nancy Dubuc, Vice’s chief executive, announced the news in an email to 2,500 staffers, describing it as a “strategic restructure”. The cuts will be spread across the company’s global operations and come as Vice reorganises itself around its different divisions, such as its creative agency and studios business, rather than on a regional basis. “We’ve had to make hard but necessary operating decisions,” said Ms Dubuc.