Media Layoffs Will Continue Until Media Outlets Improve
Major media outlets drove huge swaths of customers to new, independent media outlets and they aren’t coming back.
“‘Breathtaking’ media layoffs continue with job cuts at NowThis and Intercept,” reported Edward Helmore for The Guardian on February 15, 2024. “Intercept management announces 15 staff reductions, and NowThis Union reveals whopping 50% of staff laid off.”
“The 2024 evisceration of journalism and media jobs continued on Thursday with staff cuts at NowThis, and at the Intercept, an investigation-focused publication launched 10 years ago with funding from the eBay founder Pierre Omidyar,” began Helmore.
“Scoop: @theintercept is cutting 15 positions, and EIC Roger Hodge is departing,” New York Times reporter Ben Mullin posted to X that same day.
“Dear team,” began The Intercept in an all-too-familiar pink-slip note to employees, “I am writing to share a challenging update. Today The Intercept is parting ways with many talented and beloved colleagues.”
“Like many news outlets, The Intercept is facing significant financial challenges,” continued the letter. “To become sustainable, we need to make some changes — which unfortunately includes 15 staff reductions across the organization.”