Sign up to receive 5 free days of our daily summary for tech news.

Interested in the Uber IPO? Subscribe today for $100 off and get access to daily conference calls during the week prior to the IPO.

Vice to Shrink Its Workforce by 15%

Nancy Dubuc is starting to put her mark on Vice and her plan is to make it smaller. This story in the Wall Street Journal lays out the financial situation Vice is facing as she tries to right the ship—this year it’s going to bring it around $600 million in revenue, flat from last year and below the guidance it gave investors. It’s also planning to consolidate many of its digital properties and will reduce workforce either through a hiring freeze or people leaving.

Needless to say Vice’s current state is not Dubuc’s fault. Vice had been an unruly collection of news sites and properties that she inherited from previous CEO Shane Smith. Turning it around, especially in this environment, won’t be easy. This story also notes that the relationship with investor TPG is problematic. Look for that dynamic in the ensuing drama. 

0 Subscriber comments

Sign up for our weekly newsletter and 5 complimentary days of our daily tech news roundup.

Already a subscriber? Log in here