Vox Media Layoffs

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Vox Media, a prominent digital media company, is preparing for company-wide layoffs affecting both unionized and non-union staff. This decision follows a significant slump in advertising revenue, with the company reporting it was 40% off its second-quarter forecast and expects to miss its full-year target by 25%. The layoffs come after Vox furloughed about 100 employees, or 9% of its staff, in April due to the pandemic's impact, many of whom will now be permanently let go. With approximately 1,200 total employees, the exact number of new cuts is still being determined as the company consults with unions. The media industry has been heavily affected by reduced advertising budgets during the coronavirus crisis, prompting these difficult measures.

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