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Photo: Vice

Vice Media is laying off 155 employees, according to an internal memo from CEO Nancy Dubuc obtained by Axios. Vice's digital group will be the most heavily impacted by the cuts.

Why it matters: It's the latest media company that's been been forced to take drastic measures to survive the economic fallout of the coronavirus.

  • "Currently, our digital organization accounts for around 50% of our headcount costs, but only brings in about 21% of our revenue," Dubac wrote. "Looking at our business holistically, this imbalance needed to be addressed for the long-term health of our company."

Details: The company will lay off 55 people in the U.S. today and approximately 100 colleagues globally over the coming weeks.

  • It will provide severance pay to laid off workers and everyone impacted will be able to keep their work-issued laptops and receive outplacement services to aid in preparing for new job searches, Dubac said.
  • Laid-off employees in the U.S. will receive extended health benefits coverage through the end of the year.

What's next: Vice is moving as many individuals as possible over to its news division, where traffic has been exploding during the coronavirus crisis.

The big picture: The pandemic is forcing dozens of major media companies, including newer, digitally-native media companies, to carry out layoffs and pay cuts.

  • Vice joins Group Nine Media, BuzzFeed, Vox Media, Bustle Digital Group, Cheddar, Maven Media, G/O Media, Protocol and others who have resorted to layoffs and furloughs.

Go deeper: Digital media clobbered by coronavirus

Go deeper

Twitter to label state-affiliated media accounts

Photo Illustration: Omar Marques/SOPA Images/LightRocket via Getty Images

Twitter will begin labeling accounts belonging to state-affiliated media outlets from countries on the U.N. Security Council, it announced Thursday.

The big picture: The new policy will affect “outlets where the state exercises control over editorial content” in China, France, Russia, the U.K., and the U.S., according to the announcement.

26 mins ago - World

Two years of COVID-19

Expand chart
Data: Our World in Data; Chart: Axios Visuals

Two years ago Wednesday, the first case of a mysterious new respiratory disease was discovered in Wuhan, China. Now, the Omicron variant has deepened concerns about just how much longer the coronavirus pandemic will last.

The big picture: More than 5 million people have died since that first case. Most people on earth have lived through some form of lockdown. 54% of the global population has had at least one vaccination, though the shots have been distributed unevenly.

Updated 13 hours ago - Politics & Policy

U.S. sounds alarm on Ukraine

Conscripts line up at a Russian railway station yesterday before departing for Army service. Photo: Sergei Malgavko/TASS via Getty Images

The Biden administration is "deeply concerned" by new intelligence — detailed for Axios and other outlets — showing Russia stepping up preparations to invade Ukraine as soon as early 2022.

Why it matters: Most of this was known from public sources and satellite imagery, but the administration is sending a stronger signal by releasing specific details from the intelligence community.