It’s a sad end to 2023 as Vox and Condé Nast are the latest news outlets to announce layoffs. This year, regrettably, has been the worst in terms of layoffs – and now people being fired just before Christmas?
When will there be an end to this? Will we be able to sustain ourselves, able to steady ourselves?
It’s a sad state of affairs in the business world. Read on this expert from The Messenger:
Vox Media and Condé Nast laid off employees Thursday, according to posts shared on X and a Union announcement. The job cuts come after a series of downsizings across major news outlets this fall, including at The Washington Post, Jezebel and CNBC, and show that a sustainable revenue model continues to elude the news industry two decades into a transition toward digital delivery.
Vox Media let go of 16 staffers at Vox, a progressive-leaning online news outlet geared toward in-depth explanations of news events, and four from The Dodo, a separate title about animals, a source close to the matter told The Messenger. The cuts represent about 4% of the organization, a Vox spokesperson told The Messenger. Vox has introduced a voluntary subscription model for its content, which it calls a contributions program.
“This reflects continued turmoil in advertising and the need to build even more loyal audience relationships give the increasing volatility of search and social platforms,” the Vox spokesperson added.
Condé Nast also reportedly began layoffs at publications including The New Yorker and Vanity Fair, according to a post shared on X. This comes after Condé Nast announced plans to trim its team by 5% at the start of the month, according to Variety.
Roger Lynch, the CEO of Condé Nast, said in a memo to staff: “We’ve also had to make the difficult decision to implement reductions among our dedicated teams. These reductions will take place over the next few months and total approximately 5% of all staff roles,” according to Variety.
Condé Nast and its union did not immediately respond to The Messenger’s request for comment.