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washington [US]Jan. 22 (ANI): American media, from CNN to NBC News, are going through tough times, with a string of outlets announcing layoffs amid the economic downturn, and now, Vox Media is the latest to join the list.
Vox Media, publisher of news sites such as Vox and The Verge, announced it would lay off 7% of its workforce, CNN reported.
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Vox Media CEO Jim Bankoff said that the 7% layoff will result in about 130 job losses, which will also affect multiple teams, including editors.
Bankoff told employees the layoffs were “due to the challenging economic environment impacting our business and industry”.
“We are experiencing and expecting more of the same economic and financial stresses that others in the media and technology industries are experiencing,” Bankoff said in his memo, according to CNN.
The union representing Vox Media workers said it was “outraged” by the statement.
“We are outraged by the way the company has handled these layoffs and are currently discussing how best to serve those who have just lost their jobs,” the union said in a tweet.
Not only Vox Media, but also CNN, NBC News, MSNBC, Gannett and other news outlets are laying off employees.
On Nov. 30, CNN notified its staff that layoffs had begun, a move that would affect hundreds of employees at the global news network and mark the organization’s largest layoffs in years.
In an all-staff memo, Chris Licht, who took over as the network’s chief executive in May, described the layoffs as a “direct blow” to the organization and told staff to “talk to any member of the Goodbye to all very difficult CNN teams, let alone many,” CNN reported.
Employees at the company have been anxiously preparing for layoffs since Licht informed them last month that “disturbing” changes were coming.
Meanwhile, The Washington Post is also expected to announce layoffs soon. Companies that haven’t laid off workers have taken strong steps to reduce spending, according to CNN.
In addition to media organizations, large technology companies have also announced layoffs. Alphabet, Google’s parent company, announced job cuts Friday, along with big tech giants Meta, Amazon and Microsoft.
Alphabet said it has decided to lay off 6% of its workforce, which equates to about 12,000 job cuts, according to CNN.
Entertainment giants such as Warner Bros. Discovery Channel (CNN’s parent company) and Paramount Universal have also cut jobs. (Arnie)
(This is an unedited and auto-generated story from a Syndicated News feed, the content body may not have been modified or edited by LatestLY staff)
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