Mic lays off 25 staffers in pivot to video

August 17, 2017
Category: Business & Work

MTV News did it. Vocativ did it. Now it’s Mic’s turn.

The millennial-focused digital news publisher announced on Thursday that it was laying off 25 staffers because “we believe deeply in our vision to make Mic the leader in visual journalism.” In other words: Fewer people typing and editing words, more people shooting and editing video. Here’s how Mic.com founder Chris Altchek described it in his memo to staff.

We made these tough decisions because we believe deeply in our vision to make Mic the leader in visual journalism and we need to focus the company to deliver on our mission. Visual journalism already makes up 75% of the time that our audience spends with Mic. As new platforms emerge and existing platforms continue to grow, we believe this will become a dominant form of news consumption for our audience. Our strategy to realign our resources behind this new market of ‘tap stories,’ in which we are already winning, will set us apart. In addition, we remain confident about our ability to succeed with extensions into the premium video space and already see strong traction with those efforts.

Those laid off include “reporters, editors and people on Mic’s audience and analytics teams,” according to Mic.com’s Kelsey Sutton.

Related Training: Video Essentials Training Package

Here’s Altchek’s full memo:

Team,

Today, we had to say goodbye to 25 very talented colleagues and friends on our full-time team. We have done our best to ensure the path forward for each affected individual is as smooth as possible. Saying goodbye to colleagues is difficult and we’re very grateful for all of their contributions to Mic.

We made these tough decisions because we believe deeply in our vision to make Mic the leader in visual journalism and we need to focus the company to deliver on our mission. Visual journalism already makes up 75% of the time that our audience spends with Mic. As new platforms emerge and existing platforms continue to grow, we believe this will become a dominant form of news consumption for our audience. Our strategy to realign our resources behind this new market of ‘tap stories,’ in which we are already winning, will set us apart. In addition, we remain confident about our ability to succeed with extensions into the premium video space and already see strong traction with those efforts.

I have never been more optimistic about Mic’s future and potential. Having recently completed our Series C financing, Mic is in the strongest financial position in the company’s history.

Please join me for an all-hands at 3:00 p.m. to discuss further and to answer any questions you may have.

Thank you for your continued energy, focus and commitment to Mic.

Chris