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.

What to expect from the final debate of the 2020 election

Trump and Biden at the first debate. Morry Gash-Pool/Getty Image

Watch for President Trump to address Joe Biden as “the big guy” or “the chairman” at tonight's debate as a way of dramatizing the Hunter Biden emails. Hunter's former business partner Tony Bobulinski is expected to be a Trump debate guest.

The big picture: Trump's advisers universally view the first debate as a catastrophe — evidenced by a sharp plunge in Trump’s public and (more convincingly for them) private polling immediately following the debate.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Chris Christie: Wear a mask "or you may regret it — as I did" — Senate Democrats block vote on McConnell's targeted relief bill.
  2. Business: New state unemployment filings fall.
  3. Economy: Why the stimulus delay isn't a crisis (yet).
  4. Health: FDA approves Gilead's remdesivir as a coronavirus treatment How the pandemic might endMany U.S. deaths were avoidable.
  5. Education: Boston and Chicago send students back home for online learning.
  6. World: Spain and France exceed 1 million cases.