Axios Lays Off Dozens of Employees

Media Outlet Adapts to Shifting Industry Landscape

Axed Employees Offered Buyouts

Axios, the digital news outlet known for its "smart brevity" format, is laying off about 50 employees, or roughly 18% of its workforce, as it adapts to a changing media landscape.

CEO Jim VandeHei announced the layoffs in a memo to staff on Tuesday, saying the company needed to make changes to "ensure Axios remains a leader in the digital news space."

The layoffs will impact various departments, including editorial, sales, and operations. The newsroom will see the largest cuts, with nearly 37% of the 270 full-time employees being laid off, including about 100 journalists.

Axios said it will offer buyouts to affected employees, providing severance and healthcare benefits for up to six months.

The layoffs come at a time when the media industry is facing significant challenges, with declining advertising revenue and increasing competition from social media and other platforms.