Vice is set to axe around 250 jobs from its global workforce in an effort to cut costs and achieve profitability in a wavering advertising market.
The job cuts follow the recently announced redundancies at HuffPost and BuzzFeed.
Around 250 employees will be impacted by the cuts as new Vice CEO Nancy Dubuc attempts a “strategic restructure” that will see the media company focus on growth across its film, television production and branded content spaces.
In an email sent to all staff, Dubuc said Vice needed to “operate more nimbly, focusing our energies and investments on core strengths”.
She said: “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”.
B&T reached out to Vice Australia for a comment, however, they could not offer any additional information other than what was reported in the Hollywood Reporter.
The Hollywood Reporter revealed all departments at every level are expected to receive layoffs.
Employees across the US, UK and Canada are believed to have been told about the job cuts last week, with the rest of the global cuts coming in the next few weeks.
It is currently unclear how the job cuts will affect the Australian branch of Vice.
Dubuc, former chief of A+E Networks (TV broadcasting company), took over as CEO of Vice at the end of May last year.
She replaced the company’s founder Shane Smith, who announced in March he would step back into the role of executive chairman.
Dubuc joined Vice following a turbulent period after ex-employees came forward with allegations of a toxic workplace and high-level staff members accused of sexual misconduct.
The Monkeys has been named Effective Agency of the Year at the 2020 Australian Effie Awards, scooping four Golds, two Silvers and one Bronze across three clients, Beam Suntory, NRMA Insurance and Telstra. One Gold was awarded to BMF for ALDI Australia for ‘ALDI Good Different’, which also went on to win the coveted Grand […]
Inner Health has revolutionised its famous blue bugs as part of a new brand platform launching this week. Developed by VMLY&R, the new platform ‘Listen to your Gut’ re-introduces the bugs in a whole new environment. VMLY&R Client Service Director Jo Millington said the new platform aimed to reposition Inner Health as an overall health […]
Insight-led communications consultancy, The Mint Partners has expanded its technology portfolio with the addition of luxury audio lifestyle brand Bang & Olufsen. Founded in 1925 in Struer, Denmark, Bang & Olufsen has pushed the boundaries of audio technology for almost a century. The company continues to be at the forefront of acoustic innovation with its […]
WA car and home insurer, RAC has launched a new campaign to show locals that they understand the priceless relationship members have with their belongings. Created by Wunderman Thompson Perth, the campaign titled ‘We See What You See’ uses computer generated imagery (CGI) to depict the unique relationship a family has with their insured items – […]
Paper Moose has created a campaign for the recently announced carbon-neutral telco brand, felix, due to go to market towards the end of the year. This is the first work from Paper Moose since winning a competitive pitch for the new TPG Telecom brand. The teaser campaign raises awareness of the nearly 1 million tonnes […]