JUST IN: Vice Media to stop publishing on Vice.com, will slash hundreds of jobs amid mainstream media death spiral

The company claims to be undergoing a shift towards a "studio model," with affected employees expected to be informed about the next steps early next week. Refinery29, another media brand under Vice's ownership, will continue to operate independently, focusing on diversified digital publishing. Dixon mentioned ongoing discussions about selling Refinery29.

"Already in 2024, almost every major news publisher has cut jobs or completely closed its doors, including over 500 journalists:

The Washington Post

Vox Media

The Los Angeles Times

Pitchfork

Sports Illustrated

Time

Business Insider

TechCrunch

The Wall Street Journal

The Messenger

Vice Media

"The Fake News is on the ropes" Charlie Kirk observed on X.

The decision comes amid mass layoffs, austerity measures, and bankruptcies across the mainstream media landscape. Vice employees had recently been concerned about the potential closure of the news website. Despite inquiries from Vice News Executive Editor, Josh Visser, there has been no official response from the company. The Hollywood Reporter disclosed that employees found the situation "very upsetting," expressing concern about the possible removal of their website and work. This development comes less than a year after Vice was rescued from bankruptcy by a consortium of buyers from Fortress Investment Group.

The Vice Union, in response to the layoffs, expressed that they can no longer be surprised by the company's choice to address challenges through layoffs. They criticized Vice for letting go of dedicated employees who contributed to its reputation as a respected and award-winning media company.

The challenges facing the mainstream media industry appear to be widespread, impacting both established and digital media outlets.