Vice Media is set to cancel its acclaimed program “Vice News Tonight” and undertake a sweeping restructuring that will have painful consequences for staff across the organization.
According to reports, dozens of employees are set to lose their jobs, with the Washington, D.C. bureau reportedly being hit particularly hard.
In a memo to staff, Vice Media co-chief executives Bruce Dixon and Hozefa Lokhandwala said that the changes are a response to current market conditions and the business realities facing Vice Media Group and the broader news and media industry.
The news may come as a surprise to many, given that the company was once seen as the future of media, but has since struggled with various business difficulties and executive changes.
The restructuring will have major implications on news teams at Vice Media. The company will sunset the Vice World News brand and fold its operations under the Vice News umbrella, giving the company a singular news brand. It will also slash its dedicated audio unit, as well as the Vice World News short form video team.
The company will also implement other workforce cuts across the digital organization and trim various budgets, including some travel, to further reduce costs.
Most notably, the award-winning “Vice News Tonight” will come to an end, with its final broadcast airing on May 25. The program has been on the air for seven years and just celebrated its 1,000th episode last month.
Vice Media has confirmed that employees who are being laid off will receive severance and that the company will work with the Vice Union on the matter.
This announcement comes as a range of media companies, including BuzzFeed, Disney, and NBC News, have been forced to make difficult decisions in response to economic headwinds and other industry challenges.
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