Vox Media lays off 7% of staff amid 'economic challenges'

Vox Media, owner of Vox and The Verge websites as well as the New York Magazine, said it is laying off 7% of its staff (around 130 employees). CEO Jim Bankoff said the company took the "difficult" decision due to "the challenging economic environment impacting our business and industry". The news follows layoffs at CNN, NBC, BuzzFeed and other outlets.