Vox Media to Cut 7 Percent of Workers

Vox Media, which owns brands like The Verge, SB Nation and New York Magazine, said on Friday that it would cut about 7 percent of its staff, joining a parade of tech and media companies laying off workers amid economic uncertainty.

In an email to the staff on Friday morning, Jim Bankoff, Vox’s chief executive, said the company needed to become smaller in the face of a downturn, adding that the company had already reduced its spending and frozen new hiring.

“Unfortunately, in this economic climate, we’re not able to sustain projects and areas of the business that have not performed as anticipated, are less core to where we see the biggest opportunities in the coming years, or where we don’t have enough rationale to support ongoing investment in what could be a prolonged downturn,” he wrote.

Mr. Bankoff did not disclose whether the cuts would come from all of the company’s brands, but said that the teams affected included revenue, editorial, operations and core services. The company has about 1,900 employees, a spokeswoman for Vox Media said. She declined to comment further on the cuts.

Article source: https://www.nytimes.com/2023/01/20/business/media/vox-media-layoffs.html