Vice Media Group on Friday said it is laying off more than 150 employees from its U.S. and international units as the company tries to rein in costs amid an industrywide slowdown in digital advertising.
In a note to employees Friday, Vice Chief Executive Nancy Dubuc said the cuts would focus primarily on Vice’s digital-media business, which she said represents an outsize portion of its spending relative to its revenue. The digital organization accounts for about 50% of the company’s head-count costs but only generates about 21% of the company’s revenue, Ms. Dubuc wrote.