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Axios slashes jobs.
In a memo to Axios staff, the CEO announced layoffs impacting 10% of workers, citing an evolving media landscape.
Published August 7, 2024 at 7:32am by Natalie Neysa Alund
Axios Lays Off 10% of Staff, Future Media Companies will be 'Leaner'
American news website Axios is laying off about 10% of its staff, the company announced Tuesday, citing the changing media landscape.
"Media companies of the future will be leaner, more demanding of distinctiveness, more indispensable to their audience and advertisers. There will be no market for mediocrity, or widely known, or fine-but-not-essential content or work." – Jim VandeHei, CEO, Axios
In an [internal staff memo], CEO [Jim VandeHei] wrote that the "cuts were necessary due to a rapidly changing media landscape". The [New York Times] obtained and published the full memo.
The cutbacks affect 50 employees and are the "first sizable round of cuts" since the company's founding in 2016 by ex-[Politico] journalists VandeHei, Mike Allen, and Roy Schwartz.
No further information about the positions being eliminated has been released. The layoffs are set to begin this Friday, according to the internal memo.
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Read more: American news website Axios laying of dozens of employees