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Media company Vice Media has revealed plans to eliminate 250 jobs as part of a reorganisation effort.
Nancy Dubuc, CEO of the Vice Media, announced plans to cut 250 jobs across all departments and levels globally, accounting for 10% of the company’s employees.
The move comes after Dubuc’s note stating the company is setting itself up to shift its business focus to film and TV production.
A Vice Media spokesperson said that any changes in Asia would “happen over the coming weeks and will be across Vice globally” despite the company’s large and engaged audience, commercial partnerships and licensing deals in Asia.
“Asia represents a huge cultural opportunity – and as per the reporting, Vice will be organising through all lines of business, Vice Studios, Virtue, digital, TV, and news, not separated by language, culture and territorial borders,” the spokesperson said.
This is the third digital publisher to announce major dismissals in the past month. In January, Buzzfeed announced cuts that will affect 15% of staff globally, followed by Verizon, which is set to cut 7% of staff from the media division.
The story was first reported by Mumbrella Asia.