Media and tech 'bloodbath' continues as more than 24,500 employees were laid off or fired in January 2024
By newseditors // 2024-01-31
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Traditional media, along with the Biden regime, keeps insisting the economy is "thriving", despite the fact that more than 70% of Americans are living paycheck to paycheck some of the time, and 50% living that way all of the time, and that food prices are still approximately 20% higher than they were when Joe Biden started occupying the White House. (Article by Susan Duclos republished from AllNewsPipeline.com) They tell us job numbers are great, the economy is growing, yet interest on the national debt is approaching a trillion dollars. Like the Hunter Biden 'laptop from hell,' in 2020, the national media likely won't report the true state of the economy until after the presidential election. Related: It Only Took 4 Years: DOJ Finally Acknowledges Hunter Laptop Is Legitimate For First Time There is something else that skews the picture of a thriving economy, and that is the number of layoffs and firings being seen in multiple sectors. One of those sectors is the national media, and while it is never great to see people lose their jobs, it truly is ironic that those that lied to us about the Hunter Biden laptop, the economy, the Russian collusion hoax, hate crime hoaxes, Covid lockdowns, masking, social distancing, vaccine safety, and so much more, are finally getting their comeuppance. Let's begin with the MSM: In 2023, more than 20,000 media jobs were lost, 2,600+ of them from the "news" sector itself.
The news sector has lost more jobs this year through November than it did in all of 2022 or 2021. Media, of which news is considered a subset, has experienced 20,342 cuts, the highest year-to-date figure since 2020, Challenger reported.
Jump forward to the beginning of 2024, and we see the media "bloodbath" is still going strong. • This week, Time magazine and Condé Nast, the publisher of Vogue, Vanity Fair, GQ and other marquee magazines, both announced significant job cuts. • The Los Angeles Times laid off more than 100 employees, or more than 20% of its newsroom, with staffers walking out last week in protest, one of the largest staff reductions in paper’s history. • 200 workers at The Washington Post, owned by billionaire Amazon founder Jeff Bezos, accepted buyouts in the waning days of 2023. • Sports Illustrated is cutting more than 40 jobs out of a staff of 150. • Paramount CEO announces layoffs as cost pressures, take-private talks build. • Business Insider to lay off 8 percent of newsroom. • BuzzFeed is having conversations about selling two of its premier brands, Complex and Tasty. • Red Ventures is trying to dump CNET. • Vice’s Refinery29 and BuzzFeed’s Tasty Are Up for Sale as Digital Media Contracts A look at the 2023 Layoff Tracker, we see not only the cuts in 2023, but announcements made in December 2023, about cuts and layoffs that will occur in 2024. 2023 was brutal for the entire media industry, but from the announced cuts and potential sales in just January so far, Axios was correct in calling it a "bloodbath." Media is not the only sector that calls into question the "economy is thriving" narrative, especially when CEO Mike Federer said in a note to staff that Forbes “must remain vigilant in our current economic environment.” But, but but but...... I thought the media has been telling us how great "Bidenomics" has been for America! Read more at: AllNewsPipeline.com
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