Media bloodbath escalates with more layoffs and shutdowns

Severe financial turmoil in the media world is continuing with more shutdowns and layoffs taking place this week.

Axios is laying off some 50 staffers, CEO Jim VandeHei announced Tuesday in an internal memo.

VandeHei told his workers the outlet would be nixing 50 positions to “get ahead of tectonic shifts in the media, technology, and reader needs/habits.”

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