Read at Axios
Mainstream media companies are experiencing intense cutbacks and layoffs, sparking tension between unions and management. Forbes, Insider, The New York Daily News, Paramount, The Los Angeles Times, Condé Nast, and Sports Illustrated have all seen significant cuts to their staff. The media business is shrinking, leaving many journalists worried about the future.
Forbes' newsroom union began a three-day walkout Thursday arguing management was union busting.
Media companies are facing a new reality as the industry shrinks at every level. This ongoing bloodbath has taken a toll on news outlets, resulting in job cuts and layoffs. The situation has prompted tension and conflict between unions and management.
Nearly a dozen mainstream media companies are gutting staff and scrambling to rescue their struggling businesses.