The head of Vice Media Group has informed employees that the company will stop publishing content on Vice.com and will be cutting “several hundred” positions.
A memo from Vice CEO Bruce Dixon, which was sent to staff on Thursday, explains that restructuring changes are being made “to adapt and best align our strategies to be more competitive in the long term.”
According to Dixon’s memo, “it is no longer cost-effective for us to distribute our digital content the way we have done previously.” He said Vice Media would seek to distribute its digital content by partnering with established media companies rather than publishing directly to its own site.
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