Vice Media lays off about 60 staffers as it refocuses on video
Vice Media laid off about 60 employees Friday in what the edgy news outlet described as a way to place a greater emphasis on video.
The layoffs — which affect multiple departments and represent a 2% cut of Vice’s roughly 3,000 employees — come a month after Vice announced it had secured $450 million in funding from private equity firm TPG to bolster an international and video expansion.
Cutting jobs is necessary to put more resources into video production, a Vice spokesman said. The Brooklyn-based company is not a newcomer to video. It started creating video content in 2006, and the medium represents a major source of revenue.