Mike Blake/Michael Kovac/Lara O'Reilly/INSIDER
- On Friday, Vice
Media and McClatchy company announced layoffs and buyouts, respectively, that brought the number of media jobs eliminated in 2019 to over 2,100. - The cuts follow layoff announcements at BuzzFeed, Verizon, and Gannett, the largest newspaper publisher in the US.
- It is estimated that between 2014 and 2017, some 5,000 media jobs were cut from the market.
The media industry seemed to be in freefall on Friday following the announcement that Vice Media would cut 10% of its staff and that McClatchy Company offered buyouts to 450 employees, bringing the total number of media jobs cut in 2019 to over 2,100.
The massive cuts so far this year represent a recent trend of cuts at digital-media companies that sprung up as newspapers around the country were shrinking and disappearing.