Vox.com lays off four employees in first restructuring under Lupa Systems

Editor-in-chief Swati Sharma told staff in an internal memo seen by Reuters that organizational changes had resulted in "a few colleagues leaving Vox." The memo did not give a number; the source put the figure at four. The affected staff work at Vox.com, the site co-founded by Ezra Klein, now an Opinion columnist at the New York Times.

New editorial focus

Sharma said the decision was part of a broader effort to identify growth opportunities and to better engage its audience across multiple platforms, according to the memo. She outlined a renewed editorial focus on coverage areas including societal shifts, power dynamics and everyday economics.

The cuts are the first restructuring at Vox.com since Lupa Systems completed its acquisition of New York Magazine, the Vox Media Podcast Network and Vox.com on 8 July. The deal was first announced in May. The New York Times reported it was valued at more than $300 million, citing people familiar with it. The sale covered about half of Vox Media and was Lupa's biggest deal to date, the New York Post reported. The three divisions operate as a subsidiary of Lupa Systems that keeps the Vox Media name, led by Jim Bankoff, who co-founded Vox Media and led its growth from its early days as a network of grassroots sports blogs.

Lupa Systems is a media and technology holding company founded by James Murdoch in March 2019. Its portfolio includes Art Basel and Tribeca Enterprises. Vox.com came with a membership program counting tens of thousands of paying subscribers and a YouTube channel with nearly 13 million subscribers, according to the May announcement of the deal.

Vox was launched in 2014 to address the disconnect between widely reported facts and understanding why something happened, according to the closing announcement. It developed a widely imitated explainer format that delivers understanding across digital platforms, newsletters and podcasts. Vox.com became known for popularizing explainer journalism.

The Lupa deal did not include Eater, Popsugar, The Verge, SB Nation and The Dodo. Penske Media Corporation, parent of Rolling Stone, acquired those brands in June and now operates its combined portfolio of more than 25 media brands under a new subsidiary, PMX. Penske Media was already the largest shareholder in Vox Media before the acquisition. Financial terms of Penske Media's acquisition were not disclosed.

What happens next

Sharma is expected to share more about Vox.com's editorial priorities at an all-staff meeting on 26 August, the memo says. Vox.com's total headcount was not disclosed in the memo or by the source, so the share of staff affected by the four cuts is not known.