Vice Media to halt publishing; to lay off several employees
Vice would put more emphasis on its social channels and look for different ways to distribute its content, according to CEO Bruce Dixon's memo to staff
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Published: Feb 24, 2024 8:28 AM | 1 min read
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Vice Media will stop publishing content on its website and will lay off several hundred employees over the next week, as per media reports citing a memo to staff by the company's chief executive officer Bruce Dixon. He also revealed that digital content distribution was no longer cost-effective for Vice.
Further, Vice would put more emphasis on its social channels and look for different ways to distribute its content.
Vice, which filed for bankruptcy last year before being sold for $350 million to a consortium led by the Fortress Investment Group, is also looking to sell its Refinery 29 publishing business, Dixon said.
Dixon offered no specifics about the layoffs, other than saying hundreds of people will be affected and will be notified early next week.
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