Mic is laying off staff as it prepares for a pivot to video [DailyFinance (AOL.com)]
Via Renewables, Inc. - Class A (VIA)
US:NASDAQ Investor Relations:
ir.viacom.com
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Source: DailyFinance
Mic.com laid off staffers on Thursday in what as part of a larger pivot to video which it will begin later this month. The millennial news site announced said in a memo circulated among staffers that it would lay off 25 staffers, primarily from its news and editorial departments this morning amid a larger reorganization of the company later this month. "We made these tough decisions because we believe deeply in our vision to make Mic the leader in visual journalism and we need to focus the company to deliver on our mission," founder Chris Altchek wrote. Altchek noted in the memo that visual journalism makes up "75% of the time our audience spends with Mic," and said that the new strategy would realign resources behind the new market of 'tap stories,' which he hopes will distinguish Mic from competitors. "As new platforms emerge and existing platforms continue to grow, we believe this will become a dominant form of news consumption for our audience," he wrote. Mic will hold
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Sec Filings
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- VIA's page on the SEC website