Vice Media cuts 10 percent of its staff in push to become profitable

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via washingtonexaminer:

Vice Media is laying off 10 percent of its staff as part of a plan to become profitable.

The company will cut about 250 people of its 2,500-person staff, and those cuts will span all departments, including nonwriter and editor positions, like IT and finance divisions, according to the Hollywood Reporter.

CEO Nancy Dubuc announced the plan in an email to employees Friday morning.

“Having finalized the 2019 budget, our focus shifts to executing our goals and hitting our marks,” Dubuc wrote. “We will make Vice the best manifestation of itself and cement its place long into the future.”

Last year, Vice implemented a hiring freeze, and in October, Dubuc told the Hollywood Reporter about her plans to tighten Vice’s spending and put it on a path toward profitability, adding that she was “not going to rule out more” layoffs.

Laid off workers will be given 10 weeks severance and medical benefits.

 

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