Vox Media Layoffs: US-Based Digital Mass Media Company To Lay Off Employees Amid Its Plans of Restructuring Its Lifestyle Properties, Business Challenges
US-based digital mass media company Vox Media announces layoffs of its employees as a part of business restructuring and facing challenges in the industry.
Washington, December 6: US-based digital mass media company Vox Media Inc. has announced layoffs, which would affect hundreds of employees as it plans to restructure its lifestyle properties. The decision by the digital media company would affect titles including Thrillist, PS and Eater. Besides, the Vox Media layoffs will affect the media production and technology team.
According to a report by ADWEEK, Vox Media CEO Jim Bankoff told the staff that the layoffs would affect the employees; however, he and the other spokesperson did not mention the numbers or scope of the job cuts to the workforce. Jim Bankoff informed the employees about the current business and how the growth impacted it. IllFonic Layoffs: US-Based Game Developer Known for ‘Friday the 13th: The Game’ Announces Job Cuts to Re-Align With Refined Strategy.
Vox Media CEO Jim Bankoff said the media business was accelerating and that it was essential to continuously evaluate how and where the company could serve its audiences. This step would ensure the long-term health of the business.
This year, the media, digital media and advertising industry have witnessed several layoffs, leading to many people losing their jobs. The report mentioned that these changes due to Vox Media layoffs would make the Thrillist being operated by Eater. This model would be similar to the relationship between Eater and the bar and spirits publishers Punch. Airbus Layoffs: Global Aircraft Maker To Reduce 5% of Its Global Workforce To Save Costs, Job Cuts To Affect Over 2,000 Employees.
The report said that PS would focus on the social and video footprint, focusing more on shopping. The PS title was rebranded this June as "PopSugar" to focus on health, beauty, fitness and balance. Vox Media CEO Jim Bankoff said that layoffs and other actions would be challenging yet consistent with the strategic priority of deepening audience connections to the brands and franchise to ensure financial strength.
(The above story first appeared on LatestLY on Dec 06, 2024 03:08 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).