SpinMedia, owner of Vibe and Spin, is planning to cut 15 percent of its workforce, resulting in about 30 staffers losing their jobs. The New York Post reports that the company will also drop some of its smaller online properties, like absolutepunk.com.
This is the second round of layoffs at SpinMedia in the last seven months. In February the company cut 50 people, hoping that would help make it profitable. Unfortunately for SpinMedia staffers, it appears the company is still short of that goal.