New York (AP) – Vice Media has planned to lay several hundred employees and has no longer published the material on Vice.com, the CEO of the company said in a memo in a memo on Thursday.
Vice, which was filed for bankruptcy last year, is looking to sell his refinery 29 publishing business, before being sold to a consortium leading the fort for $ 350 million, CEO Bruce Dixon asked employees in his memo.
This is the latest signal of financial problems that buffetics the media industry. Digital sites The Messenger, Buzzfed News and Izhebel have all closed in the last one year, and Ligsi Times, Washington Post and Wall Street Journal such as Legacy Media Outlets have also seen job cuts.
Once a swashbuckling media company designed a young audience with a immersive storytelling style, including digital, television and film outlets, the Vice -based Vice was $ 5.7 billion in 2017.
Dixon did not give any details about the trimming, besides saying that hundreds of people would be affected and will be informed earlier next week. The New York Times reported that the company currently has around 900 people.
“I know it is difficult to say goodbye to our valuable colleagues and it seems heavy, but this is the best way for Vice because we keep the company in position for long -term creative and financial success,” Dixon said.
He said that it was no longer cost effective for distributing its digital content for Vice, including the news, the way it has been. He said that the Vice will emphasize more on its social channels and would seek different methods to distribute its contents.
As part of his strategic change, Dixon said Vice would follow a studio model.
Before filing for bankruptcy protection last year, Vice then canceled its “Vice News Tonite” television program as a part of the trim.
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