Decision affects 9% of staff.
| | | Vox Media Announces Furloughs to 9% of Staff Due to COVID-19 | |
| | | | Vox Media, the parent to media brands like The Verge, SB Nation and New York Magazine, announced companywide staff changes that furloughed 9%—or roughly 110—of its employees. It's the latest in a number of moves by publishers to not cut jobs, but rather cut salaries or issue furloughs. Future Media Group, Vice, BuzzFeed, Gannett and American Media Group have cut the salaries of their staff as a way, they say, to avoid more layoffs. Publishers have opted to go this route because they're hopeful that business will resume as normal soon. As Mike Bloxham, svp of Global Media and Entertainment, Magid, puts it: “This year is about getting through to next year and being in the strongest position you can be in. In some cases, that’s the least weak position you can be in."
Please consider supporting our journalism with an Adweek Pro Subscription and gain full access to all of Adweek's essential coverage and resources. | | | | | |
| |
| |
|
|
|
Link 