Digital Media Bloodbath Continues: New Vice CEO Cuts 10% Of Staff, Shifts Focus To Film, TV | WHAT REALLY HAPPENED


Digital Media Bloodbath Continues: New Vice CEO Cuts 10% Of Staff, Shifts Focus To Film, TV

The digital publishing industry, which expanded rapidly during the online video boom but has since been struggling to deliver on the lofty promises sold to its VC and corporate backers, just can't catch a break.

Following mass layoffs at Buzzfeed, the Huffington Post, Gannett and Verizon Media Group last week, Vice Media has become the latest trendy new media darling to announce deep cuts to staffing levels.

The Hollywood Reporter reported Friday morning that the cuts will impact around 250 people, and are part of new CEO Nancy Dubuc's "strategic plan" to cut back on spending and "achieve profitability." The cuts, which will be distributed across "all departments at every level", will total roughly 10% of the company's workforce.

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