 "Vice media")
Vice Media on Thursday said that it is ending its flagship TV news show 'Vice News Tonight', reported CNN Business. The report further said that the company is laying off staff, marking the latest cuts for journalists in the digital media industry.
“In response to the current market conditions and business realities facing [Vice Media Group] and the broader news and media industry, we are moving forward on some painful but necessary reductions, primarily across our News business,” co-chief executives Bruce Dixon and Hozefa Lokhandwala announced in a memo to employees.
They added, “We are transforming Vice News to better withstand market realities and more closely align with how and where we see our audiences engaging with our content most.” They emphasised that news is “core” to the larger company and that it will not “exit” the business.
Numerous staff members may lose their jobs as a result of the cuts, according to people familiar with the situation who spoke to CNN. The Washington, DC, bureau of the company will be particularly severely hit. However, it remained unclear how many employment specifically would be affected by the modifications.
The news departments at Vice Media will be significantly impacted by the restructuring.
The digital organisation will conduct additional employee reductions, and the business will lower budgets for several areas, including some for travel, to further slash expenses.
