Vox Media furloughed more than 100 employees on Friday. The company currently employs about 1,200 people and is reportedly letting about nine percent of its staff go for three months. SB Nation appears to have been hit particularly hard.
Vox Media CEO Jim Bankoff, announced the moves in a memo to the staff on Friday. Some remaining employees will have reduced hours during the next three months, but Vox will continue to cover the health benefits of the impacted employees. Bankoff announced he and president Pam Wasserstein would take 50 percent pay reductions, while various other high-paid staffers will be taking pay cuts as well.
The Vox Media Union won a number of concessions for its workers before they were furloughed so that's a silver lining for the people now without work:
Some of SB Nation's most recognizable voices took to Twitter to announce they had been furloughed. A lot of really talented writers will be looking for work in the next three months: