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Vice's logo.

Vice Media is laying off 10% of its workforce, according to The Hollywood Reporter. Roughly 250 jobs will be cut across all department and job levels.

The backdrop: The writing was on the wall for Vice. Reporting and comments from CEO Nancy Dubac last year suggested the layoffs were coming. Vice has experienced investor and culture drama over the past year, impacting its goal to go public.

  • In November, Disney wrote down $157 million of its initial $400 million investment in Vice three years ago, shortly after reports suggested that the company's revenue was expected to fall flat last year and the company was expected to lose $50 million.
  • Vice seems to have scrapped a plan for an IPO in 2018 after reports surfaced of sexual harassment problems, which also led to the ousting of CEO and co-founder Shane Smith.
  • The company's weekly news show on HBO is expected to end after its current season. Vice's relationship with HBO has largely contributed to its growth up until this point. The company is reportedly prepping a new live news show that will instead air on "Viceland," a cable channel owned by Vice and operated by A+E Networks, per NBC News.

Details: The cuts are being made to reduce redundancies in international markets and to invest more in film, television and branded content production, per The Hollywood Reporter.

  • The company is planning to invest more in its Studios division, (which creates content to be sold or licensed to bigger distributors like Amazon); its ad agency Virtue, and its sales team. 

The big picture: The layoffs come at a time of tumult in the media industry, and particularly the venture capital-backed media industry.

  • Over 1,000 media jobs were cut across Verizon, Buzzfeed and Gannett last week.
  • Vice, which has raised $1.4 billion with a $5.7 billion valuation at the time of its last fundraising round in 2017, has struggled to keep some of those investors happy.

Go deeper: More than 1,000 media jobs lost in one day

Go deeper

Woman who allegedly stole laptop from Pelosi's office to sell to Russia is arrested

Photo: FBI

A woman accused of breaching the Capitol and planning to sell to Russia a laptop or hard drive she allegedly stole from Speaker Nancy Pelosi's office was arrested in Pennsylvania's Middle District Monday, the Department of Justice said.

Driving the news: Riley June Williams, 22, is charged with illegally entering the Capitol as well as violent entry and disorderly conduct. She has not been charged over the laptop allegation and the case remains under investigation, per the DOJ.

Biden will reverse Trump's attempt to lift COVID-related travel restrictions

Photo: Tasos Katopodis via Getty

The incoming Biden administration will reverse President Trump's last-minute order to lift COVID-19 related travel restrictions, Jen Psaki, the incoming White House press secretary, tweeted.

Why it matters: President Trump ordered entry bans lifted for travelers from the U.K., Ireland, Brazil and much of Europe to go into effect Jan. 26, but the Biden administration will "strengthen public health measures around international travel in order to further mitigate the spread of COVID-19," Jen Psaki said. Biden will be inaugurated on Wednesday, Jan. 20 and Trump will no longer be president by the time the order is set to go into effect.

Dominion sends cease and desist letter to My Pillow CEO Mike Lindell

Photo: Stephen Maturen/Getty Images

Dominion Voting Systems on Monday sent a cease and desist letter to My Pillow CEO Mike Lindell over his spread of misinformation related to the 2020 election.

Why it matters: Trump and several of his allies have pushed false conspiracy theories about the company, leading Dominion to take legal action. It's suing pro-Trump lawyer Sidney Powell for defamation and $1.3 billion in damages, and a Dominion employee has sued Trump himself, OANN and Newsmax.