Vox Media now boasts a workforce of more than 1,250 people and the company’s work reaches an audience of hundreds of millions across podcasts, websites, TV and OTT, social platforms, events, conferences, newsletters and a groundbreaking print magazine. CNN Sans ™ & © 2016 Cable News Network.In all that we do, our commitment to editorial excellence serves as our foundation, and our ambition is boundless. Market holidays and trading hours provided by Copp Clark Limited. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. Your CNN account Log in to your CNN account “In spite of the dedication of the many talented people involved in these initiatives,” Bankoff added, “we need to scale back.” “Unfortunately, in this economic climate, we’re not able to sustain projects and areas of the business that have not performed as anticipated, are less core to where we see the biggest opportunities in the coming years, or where we don’t have enough rationale to support ongoing investment in what could be a prolonged downturn,” he wrote to staff. Discovery (CNN’s parent company) and Paramount Global, have also trimmed their workforces.īankoff said the tough economy had forced Vox Media to focus on its core business. And companies that haven’t laid off staffers have taken strong measures to reduce spending.Įntertainment giants, such as Warner Bros. The Washington Post is also expected to announce a staff reduction soon. ![]() CNN, NBC News, MSNBC, Gannett and others have cut their workforces. Alphabet said it had made the decision to eliminate 6% of its workforce, which translates to approximately 12,000 jobs.Īcross the news industry, layoffs have been rampant. Google’s parent company Alphabet on Friday joined Big Tech giants Meta, Amazon, and Microsoft in announcing layoffs. ![]() The media and technology sectors have been battered in recent months as advertisers tighten spending amid broader economic uncertainty. “We’re furious at the way the company has approached these layoffs, and are currently discussing how to best serve those who just lost their jobs,” the union said in a tweet. The union representing Vox Media employees said it was “furious” over the announcement. “We are experiencing and expect more of the same economic and financial pressures that others in the media and tech industries have encountered,” Bankoff said in his memo. ![]() Those who had their jobs eliminated were notified through email, followed by a later meeting with a human resources officer who would discuss severance packages with them.īankoff told staffers the cuts were “due to the challenging economic environment impacting our business and industry.” Vox Media, the publisher of news websites such as Vox and The Verge, in addition to New York magazine, will lay off 7% of its workforce, chief executive Jim Bankoff said in a Friday morning memo to staff.īankoff said the layoffs, which will result in about 130 people losing their roles, impacted multiple teams, including editorial.
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