Vice Media is laying off "several hundred" staff and will stop publishing on Vice.com as it moves to a studio model, according to reports citing a memo from Bruce Dixon, the company's CEO.
The layoffs and strategy pivot come amid ongoing financial struggles, marked by the company's acquisition by a consortium led by Fortress Investment Group to avoid bankruptcy less than a year ago.
Despite these challenges, Refinery29, another Vice-owned brand, will continue to operate independently, focusing on digital and social content, with Vice pursuing its sale.
The decision has stirred unrest within the company, with Vice News executive editor Josh Visser expressing dismay over the lack of clarity regarding the future of the news website.
This move is part of a broader wave of layoffs within the media sector, affecting companies like NowThis, the Intercept, Condé Nast, and Vox Media, reflecting the industry's tumultuous landscape.