Vox Media has confirmed what CNBC reported earlier this week, that it is indeed about to undergo a round of layoffs that will eliminate 72 positions, which accounts for 6% of its total staff of 1,200. In a letter to staff, CEO Jim Bankoff, broke the difficult news to his employees candidly, opening with: “With deep sadness, and as a consequence of the pandemic and its devastating impact on the economy, I am writing to let you know that today we will be informing some of our colleagues that they will no longer have jobs at Vox Media.” According to CNBC, Vox has struggled to generate enough revenue due to the economic downturn that has been caused by the COVID-19 pandemic. At current pace, it is expected to miss its full-year revenue goal by 25%. The publisher, who’s portfolio includes Vox.com, New York Magazine, The Cut, The Verge, Recode, SB Nation, Eater and Polygon and others, was considered a digital publishing role model by many media pundits for its ability to launch new brands and make smart acquisitions that fit into its core business model. But as we’ve seen recently with companies like Atlantic Media and Quartz, two organizations that were also celebrated for their innovative business models, nobody is immune to the current market conditions. According to Bankoff, the coming cuts will be a majority of staffers who were furloughed in May, but some who stayed on through the pandemic will also be laid off. No specifics as of yet to which departments will be... Continue reading at 'Folio Magazine'
[ Folio Magazine | 2020-07-16 14:53:51 UTC ]
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Arts Council England (ACE) has announced a £160m emergency funding package to help artists and art organisations cope with the coronavirus crisis. Continue reading at The Bookseller
[ The Bookseller | 2020-03-25 04:57:11 UTC ]
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At the coronavirus outbreak reshapes our industry, The Bookseller is inviting staff members from across the book trade to share their experiences of working during the coronavirus outbreak. Continue reading at The Bookseller
[ The Bookseller | 2020-03-24 12:47:26 UTC ]
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A rapid decrease in sales caused by the new coronavirus and the decision to delay the publication of some titles has caused Skyhorse to let go about 30% of its staff. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-03-24 04:00:00 UTC ]
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Revenue at Penguin Random House rose to €3.64 billion last year and earnings increased to €561 million. CEO Markus Dohle noted that despite the record year, the spread of the coronavirus means that the publisher will "have to endure some impact" to its business this year. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-03-24 04:00:00 UTC ]
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The British Book Awards, while announcing a coronavirus postponement, name some winners and shortlistees in two categories. The post British Book Awards: Ceremony Postponed, Some Winners Announced appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2020-03-19 16:31:34 UTC ]
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Denver's Tattered Cover is the latest bookstore to report job losses, putting 100 employees on unpaid temporary leave. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-03-18 04:00:00 UTC ]
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At the recent Digital Media India conference, Rohan Tiwary of Google Asia Pacific, offered updates on some of the company’s ongoing Continue reading at Editor & Publisher
[ Editor & Publisher | 2020-03-17 17:30:42 UTC ]
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After two decades as a division of Atlantic Media, GovExec is going independent. Atlantic Media owner David Bradley has sold a controlling stake in Government Executive Media Group (GEMG), a portfolio of media brands serving the public sector, to Growth Catalyst Partners, a Chicago-based... Continue reading at Folio Magazine
[ Folio Magazine | 2020-03-17 14:43:03 UTC ]
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The winners of the regional and country round of the Independent Bookshop of the Year Award have been announced, with nine shops in contention for an overall prize of £5,000. Continue reading at The Bookseller
[ The Bookseller | 2020-03-17 14:37:10 UTC ]
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Penguin Random House UK is expecting all London-based staff to work from home from Tuesday (17th March) and cancelling all events, including bookshop events, Penguin Live, launch parties and "any meetings". Continue reading at The Bookseller
[ The Bookseller | 2020-03-16 02:54:57 UTC ]
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The impact of the coronavirus outbreak continues to be felt across the trade, with further cancellations of literary events and larger numbers in the book trade now working from home to fight the spread. Continue reading at The Bookseller
[ The Bookseller | 2020-03-15 14:06:36 UTC ]
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The Loft literary center in Minneapolis is not canceling its second annual Wordplay literary festival. Instead, it is partnering with other literary organizations to hold a two-month virtual celebration of books and authors. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-03-13 04:00:00 UTC ]
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Long maligned as the domain of headhunters and contrived self-promoters, LinkedIn has a tendency to serve as an afterthought in publishers' social strategies, a platform familiar enough to be acknowledged but far less important than Facebook, Instagram or Twitter. Yet unlike those platforms,... Continue reading at Folio Magazine
[ Folio Magazine | 2020-03-12 17:31:13 UTC ]
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The National Book Critics Circle has announced the recipients of its book awards for publishing year 2019. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-03-12 04:00:00 UTC ]
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Awards this year go to winners in India, New Zealand, Kenya, Germany, Egypt, Spain, Indonesia, Finland, Italy, the UK, and USA. The post London Book Fair Announces Its 2020 International Excellence Award Winners appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2020-03-11 10:32:51 UTC ]
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Acknowledging that many people in its New York City headquarters may be uncomfortable commuting to its office, PRH US CEO Madeline McIntosh issued a memo saying the any employees who are able to complete their work from home may do so. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-03-11 04:00:00 UTC ]
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Susanne Woods, founder and publisher of needle and sewing crafts publisher Lucky Spool Media, died February 19, 2020, of complications from metastatic breast cancer. She was 47. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-03-11 04:00:00 UTC ]
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[caption id="attachment_162389" align="alignright" width="270"] John Yedinak[/caption] John Yedinak, CEO of Aging Media Network, jokingly refers to himself as a college dropout who went to work with his “really smart brother,” George, to try and make his own business work. Yet the company the... Continue reading at Folio Magazine
[ Folio Magazine | 2020-03-10 15:10:55 UTC ]
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How J. Edgar Hoover used the power of libraries for (gasp!) evil. | Lit Hub History “Mechanical travel blunts our sense of the world.” On the reverie and detachment of the American road trip. | Lit Hub Travel On the magic sentences of Lauren Groff, creating action without verbs. | Lit... Continue reading at Literrary Hub
[ Literrary Hub | 2020-03-07 12:30:11 UTC ]
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On Friday, Woody Allen's publisher, Hachette Books Group, decided to cancel the planned release of his memoir Apropos of Nothing. The decision came after dozens employees staged a walkout in protest of the book's publication. Continue reading at CBC
[ CBC | 2020-03-06 20:54:52 UTC ]
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