Media Layoffs Increase Amid Recession Fears

From a story on axios.com by Sara Fischer headlined “Media layoffs spike amid recession fears”:

The media industry is getting hit by sizable rounds of layoffs and cost-cutting measures as the ad market continues to show signs of a serious slowdown.

Why it matters: For many companies, the challenges are similar to the early onset of the pandemic. But now, fewer government relief programs and resources from Big Tech firms are available to help.

An unprecedented number of media layoffs occurred in 2020. But last year, job losses were at their lowest since 2008.