The layoffs are coming. The layoffs are coming!
Corporate media is dying a slow and painful death. Layoffs and restructurings are taking place in media companies all throughout the country in order to cut costs due to dwindling ad revenues and a market waking up to woke propaganda.
Earlier this week, the Los Angeles Times laid off 120 workers, or roughly 20% of its newsroom.
Meanwhile, BuzzFeed and Vice Media, two previous digital media treasures, are attempting to sell off some assets. BuzzFeed, which has lost 97% of its value since going public in 2021 (YIKES!), is considering selling its culinary sites, Tasty and WeFeast. OH NO!
The Wall Street Journal says that Fortress Investment Group, which acquired Vice in bankruptcy last year, is trying to sell its Refinery29 women’s lifestyle site.
Vice famously purchased Refinery29 for $400 million in 2019, whereas Tasty was BuzzFeed’s attempt to establish revenue sources outside advertising through direct sales of kitchenware.
VISIT OUR YOUTUBE CHANNELTime Magazine laid off 30 employees this week.
From Forbes:
In 2023, 30,000 workers were laid off by media companies:
This is the largest number of cuts in employment since 2020 when Covid-19 was raging and over 30,000 workers were laid off.
The figure is also six times higher than the number of job losses in 2022 when several large media companies including Warner Bros. Discovery and Disney and others had undergone a series of layoffs impacting thousands of media workers. -Forbes
There are several reasons cited for this year’s cutbacks, including: challenging economic headwinds, inflation, a sluggish ad economy, competition, shifts in consumer behavior, less than robust subscriber counts, changes in corporate strategy, reorganization, ongoing adjustments post-Covid, advances in technology such as AI and placating Wall Street investors. The layoffs continued into fourth quarter. Paul Wolfe, author of Human Beings First, notes layoffs are more prevalent in November and December when corporations are planning next year’s budgets.
Taylor Lorenz, Jeff Bezos‘ ardent supporter, asserted last week that “the entire journalism industry is basically in a free-fall,” and that the LA Times’ woes follow “months and months of layoffs in the media industry.”
Maybe it’s because there aren’t any actual journalists anymore. These struggling outlets are solely responsible for their own problems. They enabled woke rubbish to be pushed on their readers as true news.
Taylor Lorenz doesn’t understand that corporate media jobs are shutting down because people are sick of propaganda.
“And it’s not just digital media sites,” she says. “Local news has been obliterated, the newspaper industry is cratering, radio is essentially dead – aside from NPR which has been gutted. Meanwhile, hundreds of workers at Conde Nast, the parent company of pretty much every major magazine from GQ to Vogue to the New Yorker to Vanity Fair are on strike.”
WATCH:
ITS HAPPENING.🔥🔥👊
Taylor Lorenz is panicking about the total collapse of mainstream media and mass layoffs across the industry:👇
What did you think would happened when you got exposed…? FFS 🤦♂️ pic.twitter.com/ZamTEW1msN
— 💢⚜️ S I G ⚜️💢 (@PURE_BL00D2) January 25, 2024
I think these people had better learn to weld (I don’t think the majority of them are smart enough to learn to code) because I don’t think there will be jobs for them if the entire media industry is experiencing layoffs due to declining revenues. So the people who are being laid off pretty much created their own fate when you think about it.
In business, you have to give the customer what they want, or the customer is not going to pay you. It’s really that simple.
This is nothing more than another case of if you go woke you will go broke.
#MediaIndustryLayoffs #DigitalMediaCrisis #JournalismJobCuts
