Vox Media Lays Off 3% of Staff After Completing Group Nine Deal
(Bloomberg) -- Vox Media Inc. is laying off 3% of its staff as it integrates its acquisition of Group Nine Media Inc.
Employees being affected include those in the company's revenue department, core services, studios and its Seeker brand, Vox Media Chief Executive Officer Jim Bankoff said in a note to staff. Many employees at Seeker, a science website, will be offered jobs at the Verge, a tech publication owned by Vox. Seeker's work will be brought into The Verge and there are no other plans to combine brands or for additional layoffs, Bankoff said.
“These changes are necessary because combining our two organizations naturally created duplication in certain jobs, particularly at senior levels, as well as a need to re-prioritize a select few initiatives,” Bankoff told employees in the note.
In December, Vox Media Inc. agreed to acquire Group Nine Media Inc. in an all-stock deal, putting New York magazine, the Verge and Eater under the same roof as websites including PopSugar and Thrillist. Vox Media announced last month that it had completed the deal.
After the layoffs, the combined company will have more than 2,000 employees.
©2022 Bloomberg L.P.
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