Vice Media to axe 10% of workforce

Vice Media plans to cut about 250 jobs as a part of its restructuring drive. These job cuts will take place across various departments, levels and regions, according to Nancy Dubuc, CEO of Vice Media.

These job cuts will account for about 10 percent of the media company’s total number of employees. Originally a digital-publishing platform that shot to fame for its in-depth reporting via video and text stories, the company now plans to re-focus on its film and TV production.

Asia represents a huge cultural opportunity--and as per the reporting, Vice will be organized through all lines of business, Vice Studios, Virtue, digital, TV and news--not separated by language, culture and territorial borders, according to a Vice Media’s spokesperson.

Late last year, Vice Media had imposed a hiring freeze in order to reduce the number of employees through attrition. Vice is joining the likes of Buzzfeed and Verizon who also announced job cuts within the last two months. Buzzfeed will be cutting out about 15 percent of its staff on a global level.