Vice Media Group Cuts 155 Jobs Worldwide

An extremely rough week for the media industry ended with more bad news Friday when Vice Media Group revealed 155 layoffs worldwide. Chief executive officer Nancy Dubuc told staffers that the Brooklyn-headquartered company will be axing 55 roles in the U.S. Friday and about 100 in other countries over the next few weeks to counter the coronavirus-related advertising slump facing the whole media industry. Vice’s digital side will be heavily impacted. “The reality is that some tough decisions had to be made primarily around our digital teams,” she said. “Currently, our digital organization accounts for around 50 percent of our headcount costs, but only brings in about 21 percent of our revenue. Looking at our business holistically, this imbalance needed to be addressed for the long-term health of our company.” This is the second round of cuts that Vice, which owns Refinery29, Garage and I-D, has had to make due to COVID-19. In March, it implemented a three-month-long pay cut for many employees. As part of this, executives saw their pay reduced by 25 percent, with Dubuc taking a 50 percent cut. She stressed that executives had tried everything to protect these positions for as long as possible. The Vice Union, in a statement

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