Axios CEO Announces Layoffs Due to Media Industry Changes

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Posted By: Media Bias Fact Check

Axios is laying off approximately 50 people across the digital news company. CEO Jim VandeHei announced this in an email to staffers on Tuesday. In his email, obtained and reported by The New York Times and Deadline, VandeHei said the changes are not “a reflection on anyone’s work.” These changes are due to shifts in the media business. “We’re eliminating about 50 positions to prepare for tectonic shifts in the media, technology, and reader needs/habits,” he wrote. “This is a painful but necessary move to tighten our strategic focus and shift investment to our core growth areas.” VandeHei, who co-founded Axios in 2017, said the company will still hire in “key areas.” He said the move was necessary because of “shifting reader attention and behavior.” Artificial intelligence and emerging rivals in the business also contributed to the necessity. The Times reported that the layoffs would be the first Axios instituted. The cuts will amount to 10 percent of the 500-person company’s workforce.

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