US media sees massive job cuts amid economic gloom
From CNN to the Washington Post, US media are facing tough times, as a series of outlets have announced layoffs this winter amid fears of an economic downturn.
Vox Media, owner of the Vox and The Verge websites as well as the landmark New York Magazine and its online platforms, announced Friday it was letting go seven percent of its staff.
Newsroom employment has seen a steady decline in the United States.
The Washington Post is also expected to announce a staff reduction soon. And companies that haven’t laid off staffers have taken strong measures to reduce spending, according to CNN.
Apart from media organizations, big tech companies have announced the laying off of their employees. Google’s parent company Alphabet on Friday joined Big Tech giants Meta, Amazon, and Microsoft in announcing layoffs. Alphabet said it had made the decision to eliminate 6 per cent of its workforce, which translates to approximately 12,000 jobs, reported CNN. Entertainment giants, such as Warner Bros. Discovery (CNN’s parent company) and Paramount Global, have also trimmed their workforces.
