Axios Is Laying Off 10% Of Its Staff
- by Ray Schultz , August 7, 2024
Digital news provider Axios is laying off around 50 staffers to “adapt fast to a rapidly changing media landscape,” CEO Jim VandeHei says in a memo.
The last day for most will be Aug. 9. The cutback affects roughly 10% of the workforce across multiple departments.
“This is a painful but necessary move to tighten our strategic focus and shift investment to our core growth areas,” VandeHei says.
He adds, “This decision is mine," acknowledging it is “exponentially more difficult for our departing colleagues."
VandeHei says the affected staffers will be provided with “thought severance packages.”
Launched in 2017 by VandeHei, Mike Allen and Roy Schwartz – all former Politico journalists – Axios was acquired by Cox Enterprises for $525 million in 2022, according to The New York Times.
