According to various sources, digital media business Vox is now reportedly laying off 7% of its personnel.
Around 130 individuals are anticipated to lose their jobs as a result of the changes, which CEO Jim Bankoff disclosed in a memo to employees acquired by The New York Times on Friday.
The company’s workers’ union slammed the cost-cutting strategy in a statement released on Twitter on Friday.
“We were informed today that the company is laying off around 7 percent of its workforce, and some of our members have been impacted. We’re furious at the way the company has approached these layoffs, and are currently discussing how to best serve those who just lost their jobs.” The Union said in a statement it released on Twitter.
Vox is the latest in a long line of media and technology organizations that have been pushed to cut costs due to declining internet ad income, consumer news weariness, and general economic worries.
CNN, The Washington Post, and Gannett, which owns and operates USA Today and other of the nation’s top metro daily newspapers, have all made layoffs to their newsrooms in recent months.
In addition, last year, the famously liberal NPR took the unusual step of discontinuing its summer internship program, citing budgetary concerns.