Vice CEO Will Layoff Hundreds and Shutter Vice Website

Lifestyle

Bruce Dixon was appointed CEO in December 2023 following the resignation of Hozefa Lokhandwala

Vice Media Group CEO Bruce Dixon has announced plans for a complete internal restructuring that will result in hundreds being axed through layoffs and the discontinuation of the digital publication Vice.

Dixon, who was appointed CEO in December 2023 following the resignation of Hozefa Lokhandwala, addressed the matter in an internal note to staff members. “As we navigate the ever-evolving business landscape, we need to adapt and best align our strategies to be more competitive in the long run,” he wrote, unveiling plans to “fully transition to a studio model” through partnerships with “established media companies to distribute our digital content.”

He added that, despite Vice having multiple brand verticals that produce original content and reporting, “it is no longer cost-effective” to continue their current content distribution model. “As part of this shift, we will no longer publish content on vice.com, instead putting more emphasis on our social channels as we accelerate our discussions with partners to take our content to where it will be viewed most broadly,” Dixon continued.

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The CEO also noted that Refinery29, the digital media outlet catering to a demographic of young people, will likely be next on the chopping block. While the company will “continue to operate as a standalone diversified publishing business, creating engaging, social first content” for the time being, he warned: “We are in advanced discussions to sell this business, and we are continuing with that process.”

Employees who have been impacted by these layoffs will be “notified about next steps early next week,” the memo stated. Representatives for Vice Media Group did not immediately respond to Rolling Stone’s request for comment.

Read original source here.

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