Posted 2/22/2024, 10:25:00 PM
Vice to Lay Off Hundreds as It Shifts Focus to Video and Partnerships
- Vice Media Group CEO announces layoffs of "several hundred" positions and will cease publishing content on Vice.com
- Instead of Vice.com, Vice will distribute content through partnerships and focus more on social channels
- Vice is in advanced talks to sell Refinery29, which it acquired in 2019
- These changes part of strategic shift to fully transition Vice to a studio model after publishing model deemed no longer cost-effective
- Comes after years of financial struggles, including bankruptcy filing in 2022 and previous rounds of layoffs