Vox Media Lays Off 50 People, Citing “Industry Changes”

Digital media company Vox Media said it would lay off about 50 employees at three of its publications and in its video team, citing “industry changes.”Chief Executive Jim Bankoff announced the job cuts, which amount to 5% of the company’s workforce, in a memo to staff today. The job losses hit its Racked, Curbed and SB Nation publications as well as its social video operation.Vox Media becomes the latest of the digital news outlets to undergo layoffs. Late last year, BuzzFeed cut about 100 employees as the company missed revenue targets. Verizon-owned Oath laid off about 500 employees at its AOL and Yahoo brands. Ziff Davis similarly handed pink slips to about 50 employees at Mashable.