Once a darling, Vice Media laying off hundreds of employees in wake of financial difficulties

Original article here.

Vice Media is laying off hundreds of employees and ceasing publication of content on its website.

On Thursday, Vice CEO Bruce Dixon sent out an email to employees and informed them that several hundred jobs would be cut due to financial difficulties.

“We create and produce outstanding original content true to the Vice brand,” the email reads, according to Variety. “However, it is no longer cost-effective for us to distribute our digital content the way we have done previously.”

Another change the company will make is to discontinue publishing content on its website and put more focus on social media content.

“Moving forward, we will look to partner with established media companies to distribute our digital content, including news, on their global platforms, as we fully transition to a studio model,” the email continued.

This is not the first time Vice has had to layoff employees. Last fall, the company laid off multiple people after certain shows on the platform weren’t renewed.

Other news outlets that have conducted recent layoffs include The Washington Post and ESPN.