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Large title information shops akin to The Wall Avenue Journal and CBS Information have announced layoffs in latest weeks, whereas information startup the The Messenger went belly-up — a sign that the decades-long decline of journalism is simply worsening.
Job cuts at information corporations — which make up a sub-sector of the broader media trade and embrace digital, print, and broadcast shops — made up greater than 60% of all layoffs within the media sector in January.
If journalism layoffs proceed at their present tempo, they’ll surpass final 12 months’s by an extended shot. And 2023 was already a foul 12 months for information.
In January, the media industry cut about 840 jobs. That’s about 11% greater than the variety of layoffs throughout the identical month final 12 months. And the information sub-sector of the media trade was hit particularly laborious. Job cuts at information corporations had been up a staggering 1,660% from final December.
If cuts proceed to complete 528 or extra all through the remainder of the 12 months, they’d greater than double from 2023’s totals to greater than 6,300 layoffs this 12 months.
That may require cuts to proceed at a really brisk tempo, and layoffs can fluctuate significantly from month to month.
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