In a note to staff, Vice Media has announced that due to expenses and the constantly changing business environment, it has been forced to make significant adjustments to its strategic objective.

As it completely shifts to a studio model, the corporation will be considering collaborating with well-established media outlets to deliver its content, including news. Vice will no longer post content on vice.com as part of the change; instead, it will concentrate more on its social media platforms.

According to the memo, Refinery29 will continue operating independently, and details on its sale will be revealed in the upcoming weeks.

Due to these strategic shifts the company has announced that it will be reducing its workforce, eliminating hundreds of positions. Staff will be notified of these changes in the coming week.