The wave of job losses afflicting Australia’s media publishers has continued after it was announced Nine-owned Pedestrian Group will gut its news websites and slash staff.
Nine-owned Pedestrian Group has become the latest major publisher to announce a wave of job cuts amid a last ditch restructuring effort to save the embattled company.
The move means the likes of Vice and Gizmodo will no longer be published in Australia, with the majority of their Surry Hills-based staff to be let go and not reabsorbed into Nine’s offices in North Sydney.“We’ve made the tough decision to focus on our wholly-owned Pedestrian brands where we control the strategy, the content, the product, the sales and the outcome – the entire business,” Mr Rowley said in a statement to staff.
Nine Entertainment took a majority stake in Pedestrian for $10 million in 2015 before acquiring the remaining 40 per cent of the company in 2018 for $39 million.
Vice Media Job Cuts Pedestrian
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