In what continues to be a challenging economic climate for media organizations, January witnessed an unsettling wave of layoffs impacting more than 500 journalists. This information stems from the latest industry data compiled and released on Thursday by the firm Challenger, Gray & Christmas.
A total of 538 layoffs have been publicly announced within the realm of print, broadcast, and digital news sectors during the first month of the year. This alarming figure is indicative of the broader financial adversities the news industry has faced and continues to grapple with.
Following a harrowing year for media-related employment, 2023 already started on a disheartening note. Historically, last year’s total job losses in the industry surged to 3,087—a record high since the downturn experienced in 2020, which saw 16,060 layoffs.
Recent layoffs have spanned across renowned news institutions. NBC News, Time magazine, Business Insider, and The Los Angeles Times were among those that announced reductions in their workforce; the latter eliminated positions for over 100 individuals. Other outlets, such as Pitchfork, which is being integrated into GQ, and Sports Illustrated, which is reducing its staff size significantly, are also enduring cuts. These developments come alongside labor disputes resulting in walkouts at Condé Nast due to proposed layoffs.
In a particularly startling development, The Messenger, an outlet that debuted less than a year ago, discontinued operations “effective immediately” this past Wednesday, leaving its editorial staff unemployed. It should be noted that the layoffs from The Messenger have not been factored into the 538 figure reported by Challenger, Gray & Christmas.
The persistent downsizing echoes the distressing state of the news industry and signifies the ongoing volatility in the media job market.
