The VICE Media Group (VMG) is cutting staff and ending its flagship news broadcast program “VICE News Tonight.”
VMG co-CEOs Bruce Dixon and Hozefa Lokhandwala announced the layoffs in a memo obtained by Deadline on Thursday. In their memo, the two CEOs said they were pursuing staff cuts in “response to the current market conditions and business realities facing VMG and the broader news and media industry.”
The CEOs said that while they were pursuing these cuts, they would still work to keep VICE’s news wing running.
“To be incredibly clear, VICE News is core to VICE Media Group and fundamental to our business,” Dixon and Lokhandwala wrote. “We are NOT exiting the news business, but we are changing the shape of VICE News to position the whole Company for long-term opportunities and improve how we deliver important, ground-breaking journalism well into the future.”…