The Hollywood Reporter first reported layoffs at Vice Media early Friday. According to the report, the Brooklyn-based media company will cut approximately 250 jobs across the company in the coming week, with the aim of trimming down and helping the organization become profitable.
"Having finalized the 2019 budget, our focus shifts to executing our goals and hitting our marks," CEO Nancy Dubuc wrote in an email to staff.
Vice Media will reportedly refocus around its TV production unit, its international news team, it's digital properties, and its original TV content.
Staff members in the US, who are unionized, are set to receive payouts of their accumulated paid time-off, 10 weeks of severance, and medical benefits.
The cuts were previewed in a Wall Street Journal report in November that said the company would cut staff due in part to audience attrition over the last three years.