No one is losing their job over at Vice Media right now but no one is getting one either.
Facing some serious bottom line realities, the semi-saucy Shane Smith co-founded brand has instated a hiring freeze and will also be cutting back staff through a process of attrition, Deadline has confirmed.
Kicked off about a month ago by CEO Nancy Dubuc, the plan aims to reduce staffing among the approximately 3,000 current employees by around 10 to 15% over the next year or so, we hear. Another part of Dubuc’s plan to strengthen Vice’s finances, first reported by the Wall Street Journal, is to trim the number of sites that the company operates and fosters. That would, for instance, involve taking several music sites and putting them under the umbrella of the highly recognized Noisey banner to streamline content and traffic.
Accordingly the once in-your-face brand started by Smith, Gavin McInnes and Suroosh Alvi in Montreal in the early 1990s will look to play to its more recent strengths and scale up its TV production like the HBO aired Vice News Tonight over time too.
“At a time of seismic change across the media landscape, VICE has never been better positioned to continue its remarkable growth, further cementing its status as one the most impactful and innovative youth brands worldwide,” the company said in a statement to Deadline on Wednesday. “From its deep library of critically-acclaimed programming, to its diversified revenue streams and channels across digital, mobile, television, film and branded content, VICE’s audience has never been bigger, more global, more diverse or younger.”