From Fox Business: Axios informed staffers on Tuesday that 50 people at the company would be laid off because of “tectonic shifts” in the American media industry.
Axios, which launched in 2016 and quickly emerged as a significant player in political news, uses brief articles with bullet points to help readers easily digest information. Axios CEO Jim VandeHei sent a memo informing staffers they would be out of work using the outlet’s signature “smart brevity” style.
“We’re making some difficult changes to adapt fast to a rapidly changing media landscape,” VandeHei wrote in a memo.
“Why it matters: We’re eliminating about 50 positions to get ahead of tectonic shifts in the media, technology and readers needs/habits. This is a painful but necessary move to tighten our strategic focus and shift investment to our core growth areas,” VandeHei continued. “I love Axios and the people who have built it. Those affected aren’t just Axions – they’re friends of you and me. Today is a sad day, and our full emphasis will be on handling a hard moment with grace, empathy and honesty.”
Explaining the reasons for the layoffs, VandeHei pointed to the “shifting reader attention,” a push from AI and the emergence of “new rivals” that have gone after Axios’ “core business” and “top talent.”
He said those losing their jobs would receive information about severance packages via email.
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NEW: Axios is laying off 50 people across the company. CEO @JimVandeHei just sent out this note — which says the layoffs are because of “changes in the media business” pic.twitter.com/lLVemNFh0N
— Katie Robertson (@katie_robertson) August 6, 2024
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