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Vox Media laying off roughly 50 people citing "industry changes"

Photo by Brian Ach/Getty Images for TechCrunch

Vox Media is laying off roughly 50 staffers, mostly across the social and video teams of a few brands like Racked, Curbed, SB Nation. In a memo to staffers, Vox Media CEO Jim Bankoff said they would be offering role changes to about a dozen others.

Why it matters: Bankoff says the layoffs are a response to "industry changes," referring to the pressures the digital ad economy is placing on digital-first news brands. Cuts represent about 5% of the company's employees.