In what some might view as proof that their ideology is failing, a slew of liberal media outlets are being forced to downsize and lay off hundreds of employees.
The Huffington Post, The New York Times, NBC, Vocativ, Newsweek and Time Inc., all began the process of staff layoff this week in a move that will put hundreds of reporters and media staff out of work.
In response to dropping sales, Time magazine will be letting go of around 300 employees, which will cut its workforce by four percent. To its fired workers, The Huffington Post is offering two months’ salary and a week of pay for every year of service. Employees will also be able to keep their benefits, including health insurance.
The Daily Caller reports:
Many are describing the firings as “corporate-wide layoffs” that were triggered as a result of Verizon purchasing Yahoo, HuffPost’s parent company. However, these aren’t the first news media companies to trim their staffs. Newsweek’s Margarita Noriega tweeted the companies that have begun downsizing the past few months.
Advertisers are increasingly choosing to go with digital media, abandoning hard copy publications in droves.
Michael Calderone tweeted out a statement detailing the firings and how HuffPost will handle them. Employees will continue to meet with management as part of “an ongoing process of labor-management discussions.”