NEW YORK, NY – Vice Media, following its sale to a group of former bankruptcy lenders, is making significant changes that will affect its staff and the way it distributes content.

In a memo from Vice Media CEO Bruce Dixon, it was revealed that the company will be laying off “several hundred” employees and will no longer publish content on vice.com. Instead, Vice Media will transition to a “studio model” and sell its content to other outlets. This news comes after editors expressed concern about the future of the company’s flagship news website.

The uncertainty around the situation has left staffers scrambling for answers. Vice News’ top editor, Josh Visser, addressed concerns about the potential closure of the site, stating that pulling down the website and their work would be “completely reprehensible.” He also expressed frustration at the lack of clarity and budget for the year, raising concerns about the next paycheck and the functionality of their Vice laptops.

This move follows Vice Media’s bankruptcy filing last year, as well as a deal to sell itself to a group led by Fortress Investment LLC, Soros Fund Management, and Monroe Capital. The memo from CEO Bruce Dixon also mentioned the separate operation of Refinery 29 and its potential sale, reinforcing the company’s efforts to streamline its operations.

As a result of this strategic shift, Vice Media will be reducing its workforce and eliminating several hundred positions. Despite the difficult decision, Dixon emphasized that it is the best path forward for the company as it aims for long-term success. The financial partners have agreed to invest in this new operating model, which the company believes will make it stronger and more resilient in the long run.

The news has left many employees feeling uncertain about their future at Vice Media. Despite the challenges ahead, the company expressed confidence in overcoming the obstacles and achieving their shared goals. Nevertheless, the lack of transparency and communication from senior management has left the staff feeling upset and concerned about the next steps.

Overall, the sweeping changes at Vice Media reflect the evolving nature of the media industry, as companies adapt to new strategies and business models in an increasingly competitive landscape. As Vice Media navigates this transition, it remains to be seen how these changes will impact the company’s future and the employees affected by the restructuring.