Axios is laying off approximately 50 people across the digital news company, CEO Jim VandeHei announced in an email to staffers on Tuesday,
In his email, obtained and reported by The New York Times and Deadline, VandeHei said the changes are not “a reflection on anyone’s work – it’s because of changes in the media business.”
“We’re eliminating about 50 position to get ahead of tectonic shifts in the media, technology and reader needs/habits,” he wrote. “This is a painful but necessary move to tighten our strategic focus and shift investment to our core growth areas.”
VandeHei, who co-founded Axios in 2017, said the company will still hire in “key areas” but said the move was necessary because of “shifting reader attention and behavior,” artificial intelligence and emerging rivals in the business.
The layoffs will be the first Axios has ever instituted, the Times reported, and the cuts will amount to 10 percent of the 500-person company.
The Hill has reached out to Axios.
