Watch: Vox Media to Lay Off 5 Percent of Employees

The digital media company is set to fire 50 staffers as it moves away from its push for native social video. The cuts were announced on Wednesday by Jim Bankoff, Vox Media’s CEO. As a result of our decision to wind down certain initiatives, we’ll be saying goodbye to some of our talented colleagues who have made valuable contributions to our success. The groups bearing the biggest impact are the Racked, Curbed, SB Nation, and the Video Services teams, although there are also some smaller changes elsewhere in the company. Other digital media publishers, like Buzzfeed and Mashable, have also experienced large lay offs in the past few months.

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