● Shot: New report suggests “high likelihood of human civilization coming to an end” in 2050.
—Tweet by Vice.com, Monday (link safe, goes to Twitchy.)
● Chaser: Vice.com Lays Off Senior Editors in Shakeup:
The company is also still doing its best to emerge from lingering #MeToo fallout after a scathing New York Times investigation into Vice’s workplace culture. The story culminated in the eventual dismissal of both the company’s chief digital officer and president over past accusations of sexual misconduct.
“Listening to our employees over the past year, the truth is inescapable: from the top down, we have failed as a company to create a safe and inclusive workplace where everyone, especially women, can feel respected and thrive,” wrote Vice co-founders Shane Smith and Suroosh Alvi in a public note to Vice employees in December 2017.
“We understand that this had an impact on current and former employees at VICE*, and we want to express our deepest apologies to them, as well as our extreme regret for our role in perpetuating sexism in the media industry and society in general.”
—The Wrap, yesterday.
● Hangover: Disney’s $400M Investment In Vice Media Becomes $353M Write-Down:
Disney made its investment four years ago, when Vice was valued at more than $4 billion. Later, in 2017, Vice’s valuation reached nearly $6 billion, after private-equity firm TPG invested $450 million.
Since then, the company has been hit with rounds of layoffs — in the latest releasing 10% of its workforce, in addition to other cultural problems, such as charges of sexual harassment.
With the round of layoffs last fall, CEO Nancy Dubuc stated that the company was focused on a new strategy that would lead it toward profitability. The new round of investment is intended to bolster that vision.
—Publishers Daily, May 9th.
* Wouldn’t the publication’s name be the first clue to incoming employees?
h/t ED