Media | New York, NY
Vice Media intends to lay off up to 15% of its employees, per The Wall Street Journal. The company, which produces an array of digital content for TV and the internet, also reportedly plans to fold several of its websites. Vice was founded in 1994 and reached an estimated $5.7 billion valuation last year with a $450 million fundraise led by TPG Capital. Nancy Dubuc took over as CEO earlier this year, replacing Vice founder Shane Smith.