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The head of Vice Media Group has told employees that the company will stop publishing content on Vice.com and will cut hundreds of jobs.
The company, which filed for bankruptcy protection last year, has since been sold to a group of former lenders.
The head of Vice Media Group informed employees that the company will stop publishing content on Vice.com and eliminate “several hundred” positions.
A memo from Deputy CEO Bruce Dixon sent to employees Thursday said the company is reorganizing to “adapt and best align our strategy to improve our long-term competitiveness.” It is explained that changes are being made.
“It is no longer cost-effective to deliver digital content as we have in the past,” Dixon’s memo said. He said Vice Media is looking to partner with established media companies to distribute digital content rather than publishing directly on its own site.
The website did not appear to mention these changes to readers as of Thursday evening. The memo didn’t say exactly when the company would stop publishing to Vice.com, but CBC News confirmed it had already done so.
Dixon’s memo also said the company would provide details to affected staff within the next few days.
The Brooklyn-based media company filed for bankruptcy protection last May. The company was then formally sold to a group of previous lenders, according to a July 2023 news release describing the completion of that process.
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