![]() ![]() This includes supporting employees in unique situations - notably caregivers and parents.” “Second thing: well-being and mental health.with people suffering through not only a health pandemic but an economic crisis,” as well as social injustices.“First and foremost, we wanted to ensure the health of our employees, and that meant shutting down offices….we made a call to send people home and do our best to keep them safe, before there was any official or government communication about what was going on.In conversation with Shontell, Bankoff outlined how he approached the beginning of the pandemic in early 2020. Though early 2020 held many of the same ambitious promises, by April 2020, Bankoff told Vox Media employees: “the expectations that we had just a few weeks ago for our lives and our businesses no longer apply.” Leadership ethos as the pandemic began: prioritizing health, adjusting how we work, and empowering leaders to make their own callsĢ019 was a banner year for Vox Media, marked by a merger with New York Magazine and two acquisitions: Epic, the Academy Award-winning nonfiction storytelling studio and creators of Little America, and Coral, the commenting platform that builds safer online communities. Here are some highlights of the conversation. In a conversation led by Alyson Shontell, Editor-in-Chief at Business Insider, Bankoff discussed the pandemic, protests for racial equity and justice, and the US presidential election - as well as his optimism for the media industry in 2021. We are furious at how this will impact our colleagues who have lost their jobs and remain concerned about the long-term morale of those who remain.On the virtual stage at Web Summit, traditionally held in Lisbon, Vox Media’s CEO, Chairman, and Co-Founder Jim Bankoff reflected on leading the modern media company as it both navigates and covers 2020’s biggest developments. These cuts come after multiple rounds of layoffs in 2022, in which we lost many valued colleagues. We are coming off of three years of working in tough conditions - through a pandemic with limited resources - and the way our colleagues were treated today is unconscionable. “Our committee spent Friday morning hearing from members of the Vox Media Union as they waited for emails to let them know if they would still have a job. In response, the Vox Media Union, which organized with the Writers Guild of America, East, fired back at the publisher, saying that members of the workforce had already undergone prior layoffs and had spent “three years of working in tough conditions.” While we are not expecting further layoffs at this time, we will continue to assess our outlook, keep a tight control on expenses and consider implementing other cost savings measures as needed,” he added. We suspended most new hiring and significantly reduced discretionary spending. ![]() These difficult circumstances prompted us to take other steps over the past few months to reduce our spending. “We are experiencing and expect more of the same economic and financial pressures that others in the media and tech industries have encountered. In spite of the dedication of the many talented people involved in these initiatives, we need to scale back,” he continued. “Unfortunately, in this economic climate, we’re not able to sustain projects and areas of the business that have not performed as anticipated, are less core to where we see the biggest opportunities in the coming years, or where we don’t have enough rationale to support ongoing investment in what could be a prolonged downturn. Vox Media Promotes Top Podcast Executives Ray Chao and Nishat Kurwa ![]()
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