Re: Layoffs

Friend, for years, media outlets have been struggling as advertising dollars are sucked up by Big Tech giants--particularly Facebook and Google, which account for [60% of all digital ad spending](. As such, many media companies were already in a weak position when the coronavirus-induced economic collapse hit, forcing most of them to lay off, furlough and cut salaries in order to stay afloat. Unfortunately, as with the pandemic itself, the financial situation for media companies has not improved over the summer, as many had hoped it would. Due to the complete incompetence of some of the country's "leaders", we are seeing cases of COVID-19 surge in many parts of the country, leading not only to more illness and death, but also to more economic distress. For many media outlets, any optimism for an economic rebound has evaporated, and many companies are now facing a [second wave of layoffs](. At McClatchy, 84 of the 115 employees who were furloughed in the first wave of cuts this spring are now being laid off. At Gannet, those that are lucky enough to still have a job are seeing their benefits slashed. Vox announced last week that it will be laying off another 6% of staff, Guardian News and Media is eliminating 180 jobs, and the BBC is cutting 70 jobs after having to lay off 450 people earlier this spring. Overall, in 2020 newsroom job loss is on pace to far exceed the record losses we saw in 2008 during the Great Recession. These deep cuts to media companies could not come at a worse time. As a country, we are facing an unprecedented viral pandemic that is not under control, resulting in an economic crisis the likes of which we haven't seen since the Great Depression. Meanwhile, as protesters are taking to the streets to fight against systemic racism, Trump's unidentified militarized police snatch them off the streets in a facistic threat to our democracy. This is all leading up to an election that will determine control of the White House and the U.S. Senate, as well as which party controls state legislatures for redistricting after the 2020 census. In these consequential, dramatic, and uncertain times, people are desperate for facts and guidance. Instead, the news media is disintegrating before our eyes, eaten alive by Big Tech and [hedge funds]( in their insatiable thirst for even more money. [Daily Kos is not immune to the struggles that other digital media companies have faced. We have seen drops in our revenue as well. Our lifeline has been our supportive community of readers and activists who have made contributions of $5, $10 or $25. Thankfully, these contributions have prevented us from having to make staff cuts. That's why I am asking if you can please help Daily Kos continue to bring you news you can do something about, day in and day out, by giving $5 today.]( Thank you for all that you do, Amanda McKay, Daily Kos If you wish to donate by mail instead, please send a check to Daily Kos, PO Box 70036, Oakland, CA, 94612. Contributions to Daily Kos are not tax deductible. (Please note that we may be slow to process checks during the coronavirus outbreak.) Sent via [ActionNetwork.org](. To update your email address, change your name or address, or to stop receiving emails from Daily Kos, please [click here](.