Zero Hedge Reports: It's a terrible time for America's liberal media - with companies laying off, implementing hiring freezes, and other cost-cutting measures. Some media companies have even collapsed in valuation. Many are blaming increasing macroeconomic uncertainty that has crushed advertising revenues.
A wave of recent layoffs has hit media companies, including CNN, Buzzfeed, Paramount Global (the parent to CBS, MTV, VH1), The Walt Disney Company, Comcast, Roku, Morning Brew, Gannett (parent company to USA Today), and many more in the past year.
Add Vox Media, which owns brands like The Verge, SB Nation, and New York magazine, to the growing list of media layoffs.
Axios obtained an internal memo from CEO Jim Bankoff to staff about reducing headcount by 7%. About 1,900 people work for the company, which equates to about 133 layoffs.
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notwokeshows
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Jan 22, 2023
Couldn't be happening to a nicer bunch of people.