On Friday, Vice Media announced significant cutbacks to its staff. This will impact approximately 250 people, reports stated.
“The layoffs were revealed in a memo by CEO Nancy Dubuc, who said the company had finalised its 2019 budget and will now shift its focus to executing goals and hitting our marks,” a CNN report stated.
“We will make Vice the best manifestation of itself and cement its place long into the future,” Dubuc was quoted as saying in the memo obtained by CNN Business. “To this end, we’ve had to make hard but necessary operating decisions. Starting today, the next phase of our plan begins as we reorganise our global workforce. Unfortunately, this means we will have to say goodbye to some of our VICE colleagues.”
This restructuring will affect everyone at Vice—from finance to TV and editorial to IT—all departments at every level will see some impact, CNN also quoted Dubuc as saying. “While this makes us a stronger business going forward, it is difficult for all of us to go through and we do not make these decisions lightly,” the CEO said. “We need to operate more nimbly, focusing our energies and investments on core strengths— on our terms, in our own way.”