BREAKING: Axios lays off 10% of total staff

The decision to layoff staff came "because of changes in the media business."

ADVERTISEMENT

The decision to layoff staff came "because of changes in the media business."

Image
Hannah Nightingale Washington DC
ADVERTISEMENT

On Tuesday, Axios announced that it would be laying off around 50 employees. This equates to roughly 10 percent of the news company’s staff.

In a memo sent to employees, obtained by The Washington Post’s Katie Robertson, Axios CEO Jim VandeHei said the company was making "some difficult changes to adapt fast to a rapidly changing media landscape."

"We’re eliminating around 50 positions to get ahead of tectonic shifts in the media, technology and reader needs/habits. This is a painful but necessary move to tighten our strategic focus and shift investment to our core growth areas," he wrote.

He said the decision to layoff staff came "because of changes in the media business."

"As I've said before, this is the most difficult moment for media in our lifetime. Only those who move fast — and make difficult, decisive moves — will thrive," he said, adding that the company will "continue to fire in key areas" but they "cannot ignore the changes around us" that include a shift in reader attention and behavior, AI "pushing us to a technological inflection point where models can summarize news, at the same time Facebook, X and search are faltering as reliable traffic standbys," and "New rivals are emerging to go after our core business and out top talent."

"Yes, we’re doing better than others in our competitive set — by growing readership, rapidly expanding events and high-end subscriptions, and cranking out vital content for a demanding audience," VandeHei wrote, adding that "yes, we’ll grow revenue and audience year-over-year. But we need to stay steps ahead of changes unfolding fast across American media."

He said that those whose jobs were affected would receive a company email shortly after they received the memo with information about severance packages and an invite for a meeting with a leader of their team and a member of the People Team. "We wanted to tell each of you in person first, but the mechanics of that proved infeasible."

ADVERTISEMENT
ADVERTISEMENT
Sign in to comment

Comments

Powered by The Post Millennial CMS™ Comments

Join and support independent free thinkers!

We’re independent and can’t be cancelled. The establishment media is increasingly dedicated to divisive cancel culture, corporate wokeism, and political correctness, all while covering up corruption from the corridors of power. The need for fact-based journalism and thoughtful analysis has never been greater. When you support The Post Millennial, you support freedom of the press at a time when it's under direct attack. Join the ranks of independent, free thinkers by supporting us today for as little as $1.

Support The Post Millennial

Remind me next month

To find out what personal data we collect and how we use it, please visit our Privacy Policy

ADVERTISEMENT
ADVERTISEMENT
By signing up you agree to our Terms of Use and Privacy Policy
ADVERTISEMENT
© 2024 The Post Millennial, Privacy Policy | Do Not Sell My Personal Information