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  • Vox Media preparing round of layoffs as business fails to improve amid coronavirus pandemic

    07/15/2020 9:43:50 AM PDT · by Red Badger · 49 replies
    CNBC ^ | Published Tue, Jul 14 20203:10 PM EDTUpdated Tue, Jul 14 20203:26 PM EDT | Alex Sherman
    Key Points Vox Media has informed its unions that it plans to cut jobs as advertising revenue has slumped in the first and second quarters. Vox Media is preparing staff cuts to both unionized and non-union workers. Vox was 40% off its revenue forecast for the second quarter and plans to miss its full-year target by 25% ============================================================================ Vox Media, the owner of media properties including New York Magazine, The Verge, SBNation and Eater, has informed its worker unions to prepare for company-wide layoffs, according to people familiar with the matter. Vox spoke with union leaders Monday to inform them...