Vice To Lay Off 10 Per Cent Of Its Global Workforce

The Vice Media Inc. application (app) is displayed on an Apple Inc. iPhone 5s for an arranged photograph in Washington, D.C., U.S., on Monday, Aug. 11, 2014. Vice Media, backed by billionaire Rupert Murdoch, has said that it's poised to double revenue to $1 billion by 2016. Co-founder Shane Smith had said a March interview with Bloomberg Television that Vice Media may pursue an initial public offering. Photographer: Andrew Harrer/Bloomberg via Getty Images
SHARE
THIS



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.

 

Please login with linkedin to comment

job cuts Media Vice

Latest News

WPP Q3 Revenues Fall 7.6% YOY
  • Advertising
  • Marketing
  • Media

WPP Q3 Revenues Fall 7.6% YOY

Work at WPP? Down to the last notch on your belt? Well, expect a little more tightening judging by these numbers.

by B&T Magazine

B&T Magazine
Inner Health’s Iconic Blue Bugs Are Back In New Brand Platform Via VMLY&R
  • Media

Inner Health’s Iconic Blue Bugs Are Back In New Brand Platform Via VMLY&R

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 […]

MINT Expands Technology Portfolio With The Addition Of Audio Brand Bang & Olufsen
  • Media

MINT Expands Technology Portfolio With The Addition Of Audio Brand Bang & Olufsen

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 […]

RAC Insurance Tells WA Locals “We See What You See” In New Spot Via Wunderman Thompson
  • Campaigns

RAC Insurance Tells WA Locals “We See What You See” In New Spot Via Wunderman Thompson

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 – […]

TPG Telecom Appoints Paper Moose As Creative Agency For New Brand Felix
  • Campaigns

TPG Telecom Appoints Paper Moose As Creative Agency For New Brand Felix

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 […]