Media outlet Axios laying off about 50 employees

Axios CEO Jim VandeHei announced that the company is laying off about 50 employees due to “changes in the media business."

The layoffs represent roughly 10% of Axios' full workforce. 

"We're eliminating about 50 positions to get ahead of tectonic shifts in the media, technology and reader needs habits. This is a painful but necessary move to tighten our strategic focus and shift investment to our core growth areas," read the announcement. 

VandeHei said the company will "continue to hire in key areas but cannot ignore" changes, such as "shifting reader attention and behavior, scattering across social, podcasts, individual creators and influencers, partisan websites and more."