restructurations
New York (AFP) - With the closure of BuzzFeed News and bankruptcy looming at Vice, the once promising world of free digital media finds itself at a crossroads, seeing ad revenues dry up at the same time as disappointed investors begin walking away. BuzzFeed, one of the OG new media disruptors, announced in late April that it would shutter its news division. Translation: 180 jobs lost. As for Vice, the company -- once a darling that attracted major funding from Disney and Fox, among others -- has canceled its signature show Vice News Tonight, laid off 100 people, and is reportedly on the verge ...
AFP
New York (AFP) - Hit hard by the coronavirus crisis and with new government stimulus funding in limbo, Disney, American Airlines and United Airlines announced 60,000 layoffs in just 24 hours -- leading a barrage of job losses a month before US elections.Insurance firm Allstate warned Wednesday that it would have to cut 3,800 jobs, and Marathon Petroleum is slashing more than 2,000 jobs -- 12 percent of its workforce.No sector is expected to be spared in the wave of layoffs and furloughs.Financial giant Goldman Sachs is cutting what it called a "modest" total of about 400 people, ending a morat...
AFP
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