It looks like the mainstream media is in the process of imploding…
News outlets are slashing jobs as they scramble to save their struggling businesses.
Every week, we are hearing about another outlet having to laying off staff as the media business continues shrinking at the national, state and even local levels.
Last year the media industry announced that at least 17,436 job had been cuts, marking the highest year-to-date level of cuts on record, according to a new report from Challenger, Gray & Christmas.
TGP reports: wo different things are causing this. First, a growing share of the American people no longer trust the media because so many journalists are just Democrat party activists.
Second, all of these liberal media outlets are saying the same thing and are therefore competing with each other for a shrinking piece of market share.
Do you think the people in our media class will learn anything from this? Probably not.
Axios reports:
Nearly a dozen mainstream media companies are gutting staff and scrambling to rescue their struggling businesses…
Driving the news: Forbes’ newsroom union began a three-day walkout Thursday arguing management was union busting. Its CEO announced layoffs later that afternoon hitting roughly 3% of the company.
- Insider announced it was eliminating 8% of its workforce, months after a union strike over a contract impasse with management.
- The New York Daily News editorial union walked off the job Thursday to protest “chronic cuts” by its owner, private equity firm Alden Capital.
- Paramount CEO Bob Bakish warned employees Thursday that the company is planning a fresh round of layoffs.
- The Los Angeles Times planned a one-day, multicity walkout in protest of plans for 115 job cuts. Two top editors resigned, less than two weeks after executive editor Kevin Merida stepped down.
- Condé Nast saw hundreds of union workers walk off the job Tuesday to protest hundreds of previously announced layoffs impacting approximately 5% of staff, or roughly 300 people.
- Sports Illustrated’s newsroom was gutted by sweeping layoffs after its parent company, The Arena Group, failed to make a $3.75 million quarterly payment to the group from which it licenses the Sports Illustrated brand.
It’s important to remember that all of this carnage is self-inflicted. The media did this to themselves. It’s also worth noting that liberal journalists don’t seem to care very much when other Americans lose their jobs.
