Yesterday, Billboard’s website briefly contained an odd post. The article said, “In the wake of Covid-19 pandemic, Valence Media has decided to lay off their entire web IT staff. “Effective today. The online Billboard Charts are essentially perfect, so IT staff are no longer needed. Fat drunk and stupid is no way to go through life… #SavingABuckAtYourExpense”
The post was taken down later in the day with no rebuttal or update on the status of the IT department. Valence Media, parent company of Hollywood Reporter, has also laid off employees, giving pink slips to several senior writers and editors. While these layoffs are attributed to COVID-19, the company has been hemorrhaging money, with an estimated $10 million annual loss.
Read more on the Billboard story here
Read more about the overall Valence layoffs here