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Abstract:The media industry has been rocked by layoffs that claimed over 2,700 jobs since the beginning of January.
In May, CNN announced that 100 employees took voluntary buyouts amid debt restructuring by parent company AT&T. That brought the number of media jobs eliminated in 2019 to over 2,700 along with other layoffs the same month.
The cuts follow layoff announcements at BuzzFeed, Verizon, Vice Media, McClatchy company, Machinima, and Gannett, the largest newspaper publisher in the US.
It is estimated that between 2014 and 2017, some 5,000 media jobs were cut from the market.
The media industry continued to announce large cuts in May, as CNN announced that 100 employees had taken voluntary buyouts amid its parent company AT&T's efforts to restructure billions of dollars in debt. The announcement followed large rounds of layoffs earlier in the year from companies like BuzzFeed, Verizon, and Vice Media.
The massive cuts so far this year represent a recent trend in media that has seen upstart companies and newspapers alike shrinking and disappearing.
Here are the media jobs lost so far in 2019 »
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