Vice Media Lays Off At Least 60 Employees Amid Video Expansion

0
10

The cuts, which are impacting about 2 percent of Vice’s 3,000 person staff, comes as the company grows its video operations internationally.

Vice Media is laying off at least 60 employees as it focuses on expanding its video operations internationally, The Hollywood Reporter has confirmed. 

The cuts, which represent 2 percent of Vice’s 3,000-person staff, will affect non-video positions across the company’s sales, branded, editorial and corporate divisions in North America and Europe. About 10 employees at Vice Canada were impacted. 

Some of the changes will impact Vice.com, which will pull from Vice’s lifestyle channels to add coverage of culture, arts and nightlife, says a source familiar with the company’s plans. The Thump and Creators sites, meanwhile, will be folded into the main Vice site. 

Jorge Arangure, editor-in-chief of Vice Sports, tweeted on Friday that he was among those let go. Vice Sports will shift to focus more on video production, but the source says that the site will remain independent. 

Vice is also planning to expand its quarterly magazine through the reporting of its global editorial team. 

The Shane Smith-led youth media organization has grown quickly over the last several years with the goal to have a presence in more than 80 territories by early next year. It has struck deals with Canal +, Sky, Times of India and other media organizations to help it establish mobile and video footholds in new regions. Meanwhile, it has ramped up video production through the launch of cable channel Viceland and a daily news show for HBO. 

Last month, Vice announced that it had raised $450 million from TPG, a deal that valued the company at $5.7 billion, as it looks to expand into original scripted programming. The financing is being used toward the creation of Vice Studios, which will produce scripted series for both digital and linear distribution. Vice is also backed by Disney and 21st Century Fox. 

The company is expected to continue to hire in the U.S. and Europe, according to the source. Vice also plans to staff up new international offices in India and the Middle East and expand offices in established markets such as Brazil.  

Variety first reported on the layoffs. 

Etan Vlessing contributed to this report. 

LEAVE A REPLY

Please enter your comment!
Please enter your name here