Vox to lay off 6 percent of its staff
Vox Media, home to brands like New York Magazine, SB Nation and Curbed and having around 1,200 staff members, is planning on laying off 6 percent of its employees.
Majority of the laid-off employees were previously furloughed due to the pandemic.
The redundancies were announced via an internal email from Vox Media CEO Jim Bankoff.
Bankoff wrote: “The roles affected have experienced substantial changes in workload or business priority; in some cases, they are in areas undergoing a strategic shift accelerated by the crisis and its hastened changes to our industry.”
He also added that the company is in plans to bring back approximately 30 percent of furloughed staff members, some of whom had accepted buyouts.
In this current email, Bankoff said, “the cuts were needed after Vox Media’s business failed to rebound as strongly as management had hoped in May.”