The Brooklyn, New York-based news and documentary media giant, Vice Media LLC, is cutting 250 employees out of the company and closing down its flagship weekly HBO program, sources tell the Wall Street Journal. Vice is the latest major news media outlet in recent weeks to lay off hundreds of workers as part of massive downsizing to keep the companies afloat. A leaner organization is part of the company’s realignment of its entire global strategy. The 250 Vice employees comprise about 10% of the company’s workforce. HuffPo and BuzzFeed Layoffs “Difficult Changes” was the subject line of the email sent
While market purists have traditionally drawn a strong line between the young cryptocurrency market and the traditional stock market, analysts are now having a harder time denying the correlation between the two.
Who’s Hurting Who?
Some analysts have essentially been pointing their fingers at Bitcoin’s recent decline in price and gloating in what amounts to little more than “I told you so.” However, crypto non-believers have had to take a step back and reevaluate, following The Dow Jones industrial average’s record-setting plunge earlier this week.