Verizon Media Group Cuts 800 Jobs

Wednesday, January 23, 2019
By Paul Martin

by Tyler Durden
ZeroHedge.com
Wed, 01/23/2019

After a brief lull when it looked like national media jobs might actually be growing thanks largely to the “Trump bump” in advertising revenue and the largesse of billionaire benefactors (see the Washington Post and LA Times), it looks like the American national media is back in job-shedding mode.

But the latest media organization to announce mass layoffs might not be what you would expect (*cough* BuzzFeed *cough*): On Wednesday afternoon, Verizon Media Group (which was briefly known as Oath) – which houses Yahoo’s former media division (including Yahoo Finance) – announced that it would slash 7% of its total headcount, equivalent to some 800 jobs, according to CNBC.

“Our goal is to create the best experiences for our consumers and the best platforms for our customers,” a Verizon spokesperson told CNBC. “Today marks a strategic step toward better execution of our plans for growth and innovation into the future.”

In an email to staff announcing the cuts, Verizon Media CEO Guru Gowrappan appeared to mimic the same tired “pivot to video” that has been tried unsuccessfully by many other media organizations.

The Rest…HERE

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