(Media News) Media Industry Confronts Significant Job Cuts in 2023

The media industry has witnessed a notable increase in job cuts in 2023, with 20,324 layoffs reported so far, marking the highest year-to-date figure since 2020, which saw 30,211 cuts by November. This trend is particularly pronounced in the news sector, encompassing broadcast, digital, and print media.

As reported by Poynter, the news sector has experienced 2,681 job cuts in 2023, exceeding the totals of 1,808 in 2022 and 1,511 in 2021. These figures highlight the ongoing challenges within the media industry.

Forbes notes that the Canadian Broadcasting Corporation (CBC) plans to lay off about 10% of its workforce, illustrating the widespread impact of these challenges. Additionally, Business Insider observes that layoffs are affecting various sectors, including media.

The Indiana Gazette reports that the U.S. media industry faced about 17,500 job cuts in the first half of 2023, according to Challenger, Gray & Christmas. This data points to significant restructuring within the industry.

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