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Several media companies including Nextdoor, Block, CNBC, Vice Media Group, and G/O Media have announced significant staff layoffs and restructuring. Nextdoor cut 25% of its staff, while Block founder and CEO Jack Dorsey announced job cuts due to slow growth. CNBC digital let go close to 10% of its staff, Vice Media Group is laying off more staff and restructuring its business, and G/O Media is suspending publication of Jezebel and eliminating 23 editorial staffers. The layoffs and restructuring reflect a challenging environment for media companies.
Vice Media Group Lays Off More Staff https://t.co/9I3oVli13C
On one hand, I genuinely feel bad for the people at Vice and Jezebel getting laid off. Losing a job is really hard. At the same time, the world is better off without their "content."
Wow, these sure aged poorly. (Vice is firing 10% of its remaining staff and Jezebel shut down today) X reigns supreme. The old media is dying. https://t.co/4ubD9qfABB
Vice is firing around 10% of its remaining workforce today. At its peak, it had over 3,000 staffers. That number has dwindled down to about 1,000. Today, they lose 10% of that. Keep it going. Fire all of them and shut it down. https://t.co/4O3liScOBy
Vice Media Group to Undergo More Staff Layoffs in Restructuring https://t.co/QJE8h4QQm9
Memo from G/O Media CEO Jim Spanfeller to staff says the company is suspending publication of Jezebel and restructuring G/O's editorial teams, which will result in the elimination of 23 editorial staffers (including the Jezebel team), https://t.co/OIIMWYrKJC
Vice Media Making Fresh Round of Layoffs After News Shows Not Renewed, Consolidates Operations to Two Divisions https://t.co/9pfFojuKeo
Vice Media Group Lays Off More Staff https://t.co/1iHO1mmt47
In a note to staff this morning, Vice said it will be "winding down" a number of shows that have "reached the end of their production cycle and have not been renewed." The company says it is restructuring its business "from five distinct lines of business into two." https://t.co/tSMCGIHbKK
Travis Kalanick's $15 billion ghost kitchen company lays off staff https://t.co/3le3ZhxUTW
Nextdoor lays off 25% of its full-time staff as neighborhood social network works to cut costs https://t.co/wweSV2kpNq via @KPIXTV
My former employer @CNBC digital lays off some fine reporters as it scales back coverage in non-core areas. (Retweeting with working link) https://t.co/dm3E0oVLf0
My former employer @CNBC digital cuts close to 10% of its staff, letting go some fine reporters as it pares back non-core coverage https://t.co/h30Tc2oZhq
Block founder and CEO Jack Dorsey told staff Thursday that job cuts were coming, as the firm implements a cap on the number of employees, with growth failing to keep up with headcount. https://t.co/WtfXeEPmSp
Nextdoor Cuts Staff by 25% as Ad Market Weakens https://t.co/36Y3cS4Dhh