US Media: American media is facing difficult times at this time, including big media houses like CNN to Washington Post. CNN, Washington Post have announced layoffs in the company in view of the economic downturn in the coming times. Vox Media, which owns the Vox and The Verge websites as well as the historic New York magazine and its online websites. The company announced on Friday that it would lay off seven percent of its workforce.
Along with this, employees will also be laid off in CNN, NBC, MSNBC, Buzzfeed and other outlets. In a memo to employees on Friday, Vox Media CEO Jim Bankoff said, "Poor and challenging economic environment has affected our business and industry. Due to this we have made the difficult decision to eliminate approximately seven per cent of our staff roles across departments."
It has been said in the memo that the employees expelled from the company will be informed to let go within the next 15 minutes. Explain that Vox Media has fired about 130 employees out of 1,900 employees of the group.