Challenger, Gray & Christmas.The firm surveyed 150 HR executives across the industry in June and found that there have been at least 11,027 reported job cuts through June.
Last year, there were a reported 4,087 job cuts in that same timeframe and 5,389 across the year, while 2018 had 5,104 cuts through June and 11,878 for the entire year.Many of these layoffs — which have hit companies and news organizations like Vox Media, Vice Media, the New York Post, The Atlantic and Fortune magazine — are largely the result of the economic downturn caused by the COVID-19 pandemic as advertising has taken a hit with the cancellations of events and the closures of businesses.Also Read: Can Local News Outlets Survive the Pandemic-Fueled Economic.
Read more on thewrap.com
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