Axios eliminating roughly 50 positions because of ‘tectonic shifts in the media’ industry
Axios informed staffers on Tuesday that 50 people at the company would be laid off because of "tectonic shifts" in the American media industry.
Axios, which launched in 2016 and quickly emerged as a significant player in political news, uses brief articles with bullet points to help readers easily digest information. Axios CEO Jim VandeHei sent a memo informing staffers they would be out of work using the outlet’s signature "smart brevity" style.
"We’re making some difficult changes to adapt fast to a rapidly changing media landscape," VandeHei wrote in a memo.
"Why it matters: We’re eliminating about 50 positions to get ahead of tectonic shifts in the media, technology and readers needs/habits. This is a painful but necessary move to tighten our strategic focus and shift investment to our core growth areas," VandeHei continued. "I love Axios and the people who have built it. Those affected aren’t just Axions – they’re friends of you and me. Today is a sad day, and our full emphasis will be on handling a hard moment with grace, empathy and honesty."
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The Axios CEO said that impacted staffers would be informed about severance packages via email, and meetings with leadership would be scheduled.
"We wanted to tell each of you in person first, but the mechanics of that proved infeasible," VandeHei wrote before noting changes to the industry that influenced the headcount reduction.
VandeHei cited "shifting reader attention," a push from AI and the emergence of "new rivals" that have gone after Axios’ "core business" and "top talent."
"Yes, we’ll grow revenue and audience year-over-year. But we need to stay ahead of changes unfolding fast across American media.
VandeHei’s memo was first reported by New York Times media reporter Katie Robertson and has been confirmed by Fox News Digital.
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Axios declined further comment.
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Several Axios staffers have shared on social media that they have been impacted.
It’s been a rough year for the media industry, with the Los Angeles Times, Tampa Bay Times, CNN, The Daily Beast and Vice among the outlets that have reduced headcount.