Verizon Media To Lay Off 7% of Work Force, Including HuffPost
In a new trend, Digital Media Companies have begun to lay off big chunks of their staff. Yesterday, it was announced that BuzzFeed would be laying off 215 staff members. Today, it was announced that HuffPost would be laying off a chunk of their staff as well.
HuffPost is owned by Verizon Media which announced that due to massive revenue misses, the division would laying off 7% of its staff. Verizon Media reported a $4.6 Billion write-down on the division.
What’s Next For HuffPost?
According to HuffPost’s Editor In Chief, Lydia Polgreen, the outlet will be focusing its talent and financial investments on content that has higher engagement with their readers.
“It’s a tough day for HuffPost, and we’re losing some talented and beloved colleagues,” Polgreen said Thursday. “We are deeply committed to quality journalism that reflects what matters most to our diverse audiences across the globe. HuffPost is aligning its talents and investments to areas that have high audience engagement, differentiation and are poised for growth at a time when our mission means more than ever.”