Todd Spangler NY Digital EditorVox Media, the media company whose brands include New York Magazine, Vulture, The Verge and SB Nation, is cutting 6% of its workforce, laying off about 70 employees.According to a memo sent to company staff Thursday, CEO Jim Bankoff said the majority of the employees being laid off were furloughed in May (when Vox Media said it was furloughing 9% of its employees for a three-month period).Bankoff said Vox Media has already brought back (or will soon) nearly 30% of furloughed employees who did not take buyouts, per the memo, which Variety obtained.
In addition, the company will reinstate full salaries as planned, with the exceptions Bankoff and the Vox Media executive team, who will continue with reductions..
Read more on variety.com
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