‘Vice’ Media Group to Stop Publishing, To Lay Off Hundreds of Employees

Vice Media Group has decided to stop publication on its website and is also planning to sack hundreds of its employees next week. This was announced by the company’s CEO Bruce Dixon.

The American-Canadian digital media house opted for this hard decision because of the financial crisis. “We create and produce outstanding original content true to the Vice brand. However, it is no longer cost-effective for us to distribute our digital content the way we have done previously,” the CEO said.

Vice is planning to change to a “studio model” and it will no longer be published on vice.com. In future, it will partner with established media companies to distribute its digital content.

“With this strategic shift (transition to studio model) comes the need to realign our resources and streamline our overall operations at Vice. Regrettably, this means that we will be reducing our workforce, eliminating several hundred positions,” he added.