Vice Media Announces Massive Layoffs And Shift Away from Vice.com

Vice Media has announced plans to lay off several hundred employees and discontinue the publication of content on its Vice.com website, according to a memo from the company's CEO reported by the Associated Press (AP).

CEO Bruce Dixon did not provide specific details about the layoffs but indicated that hundreds of employees would be affected, with notifications expected to be sent out early next week. I Photo: Vice Media Group

The decision comes amidst financial challenges facing the media industry, with Vice Media having filed for bankruptcy last year before being sold for $350 million to a consortium led by the Fortress Investment Group.

Additionally, Vice is exploring the sale of its Refinery 29 publishing business.

This move reflects broader trends in the media landscape, with digital sites like The Messenger, BuzzFeed News, and Jezebel shutting down in recent times, alongside job cuts at established media outlets such as the Los Angeles Times, Washington Post, and Wall Street Journal.

Once known for its innovative storytelling style tailored to a younger audience across digital, television, and film platforms, Vice Media experienced a significant decline from its peak valuation of $5.7 billion in 2017.

CEO Bruce Dixon did not provide specific details about the layoffs but indicated that hundreds of employees would be affected, with notifications expected to be sent out early next week. According to reports, Vice Media currently employs around 900 people.

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