Variety and the Flying V logos are trademarks of Variety Media, LLC. Digital media companies, including Quartz and BuzzFeed, viewed as the vanguard of the news business just a few years ago, have cut jobs, furloughed employees and cut salaries in an effort to survive the outbreak. Our Standards: The Thomson Reuters Trust Principles. Google Googol and Facebook Inc FOB. What to do to keep wildfire smoke out of your house, Crazy photo shows San Francisco's raccoon problem, Trump Selects Amy Coney Barrett to Fill Ginsburg's Seat on the Supreme Court, Caution: A Housing Crisis Could Be Coming for These 10 Cities, Trump administration rescinded 'Courage Award' for woman who criticized Trump and gave false explanation for decision, watchdog finds, California virus hospitalizations could surge in next month, One SF neighborhood sees 75% increase in burglaries, Graham begs Fox News viewers in unusual plea for campaign cash, Richard Blum, husband of Dianne Feinstein, named in UC admissions scandal. Currently, the company’s digital organization accounts for 50% of headcount costs, “but only brings in about 21% of our revenue,” Dubuc said in the memo. And traditional media wasn’t immune, with Gannett eliminating … Despite these initiatives, the VICE Union responded to the news with a biting statement of their own, which contradicted Dubuc's assertion that she did everything she could to protect the lost jobs, citing a lack of negotiation on workshare programs or further executive compensation cuts. In the memo, titled “The Course Ahead,” Dubuc wrote, “While losing even one job feels like too many, these decisions ultimately rest with me and I assure you that we went to great lengths to preserve jobs.”, Vice Digital’s teams will be disproportionately affected by the layoffs. California braces for power shutoffs and warm, windy weekend. The Economist said it is eliminating 90 non-editorial jobs and Vice Media announced in an internal memo seen by Reuters that it will lay off 155 workers, reflecting an acceleration of the news media industry’s decline during the global pandemic. The international layoffs will happen over the next few weeks, while the Brooklyn-based company’s U.S. staffers will be let go Friday. Readership across the news industry has reached record highs since the coronavirus outbreak, but advertising revenue has plunged as companies have pulled marketing budgets and some have blocked online ads from appearing on pandemic-related stories. “Now, after many years of this, the squeeze is becoming a chokehold.”. On Thursday, Quartz announced that it is closing four of its offices, cutting executive salaries by 20% and eliminating 40% of its staff, affecting about 80 jobs. See here for a complete list of exchanges and delays. SF reopens live outdoor music and entertainment, Downtown Oakland BART station closed due to civil unrest, Vietnamese police to investigate condom recycling factory, Trump selects Amy Coney Barrett to fill Ginsburg's SCOTUS seat, Who will and won't be suiting up for very injured 49ers on Sunday, Samuel L. Jackson to play Nick Fury in new Disney Plus series, Trump admin rescinded award for woman who criticized Trump. Vice said laid-off employees will receive severance pay and it will also pay healthcare benefits through 2020. Verizon Media Group (which owns TechCrunch) laid off 10 percent of its workforce.
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