Vice Media to cut hundreds of staff, pivot to ‘studio model’

Vice Media Group is set to cut hundreds of staff as the embattled company fights for survival.

Bruce Dixon

Bruce Dixon, who became sole CEO after his counterpart Hozefa Lokhandwala stepped down late last year, detailed the overhaul in a note to staff.

Dixon said “several hundred” employees would be laid off and that content would no longer be published on its Vice.com flagship site, while the company would move to a “studio model”.

Its Refinery29 brand will remain in operation as a “standalone, diversified, digital publishing business”, ahead of an expected sale of the division.

Vice has been fighting for survival for the past 18 months, with senior staffers including CEO Nancy Dubuc exiting a year ago as attempts to sell the business failed.

It was eventually sold to former lenders Fortress Investment Group, Soros Fund Management and Monroe Capital in June, following the company’s Chapter 11 bankruptcy.

Former Miramax CEO Michael Lang was then named interim executive chairman in December to help lead the “critical restructuring” at the company.

Vice Media Group is, at present, home to UK-based Gangs Of London producer Pulse Films, as well as the Vice TV network, the Vice Studios film & TV unit, a distribution arm, Refinery29, agency Carrot Creative and fashion title i-D.