United States: wave of layoffs in the media amid economic crisis
From the CNN television channels to Vox Media, via the Washington Post and the New York Magazine, the American media are going through a difficult period economically and have been laying off en masse since December.
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From CNN television stations to Vox Media, the
Washington Post
and
New York Magazine
, American media outlets have been going through tough economic times and have been laying off workers en masse since December amid high inflation in the country.
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The latest redundancy plan, Vox Media, which owns The Verge and NBA news sites and the prestigious
New York Magazine
, is laying off 7% of its staff.
One hundred and thirty people out of the 1,900 in the group will be made redundant.
All departments are concerned, including editorial.
CNN, NBC cut hundreds of posts.
The
Washington Post
announces job losses for the first quarter of 2023.
If the crisis in the American media is not as severe as that which hits the giants of Tech, which laid off 70,000 people, the media are also suffering the consequences of the drop in advertising revenues and the slowing economy, according to Chris Roush, professor of journalism at Quinnipiac University in Connecticut.
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More and more competition
TV channels are also facing a growing decline in the number of viewers and cable subscribers due to competition from
streaming platforms
such as Netflix, Disney or HBO.
For ten years, between 2008 and 2020, employment in the American media has been in decline, particularly in the press.
The sector has grown from 114,000 journalists to 85,000, according
to the Pew Research Center
.
The big groups are resilient enough to get by, concludes journalist Chris Roush, but it will be much more difficult for smaller media, such as Buzzfeed which, after laying off 12% of its staff, must resolve to sell.
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