Fortune Magazine, a business-centric publication from 95 years ago, became the latest media outlet to cut jobs on Monday, with the magazine boss pointing to the rise of artificial intelligence and the decline in web traffic as the main driver behind the decision.
Fortune CEO Anastasia Nyrkovskaya said about 10% of the staff were laid off in memos obtained by TheWrap. According to Pitchbook, the magazine has 360 full-time staff members. This means dozens of employees lost their jobs on Monday.
“Between the onset of AI, the declining trend in website traffic, and the rise in audio and video as popular formats, the business environment is changing rapidly,” Nyrkovskaya said in a memo. “The sustainable media business model needs to be changed in addition to that.”
Moving forward, she said Fortune will focus on building a “more efficient organization” and “rationalizing collaboration across our business units, sales teams and editorial teams.” Nyrkovskaya did not specify which teams will be attacked by layoffs, and For Fortune representatives did not immediately respond to TheWrap's request for comment.
Nyrkovskaya said that Fortune is considering offering “premium editorial content” based on staples like the “Fortune 500” list, ranking the 500 largest American companies in terms of sales and “leaning” towards other aspects of the business, such as events.
Fortune's layoffs will be added to the growing list of media companies that were hit by job offers in 2025. Indiewire, Forbes, Vox, The Washington Post, Scripps and The Huffington Post are just a few of the outlets that fired employees in 2025, and Bloomberg News, which cut staff early on the month.
Semafor's Max Tani first reported the Fortune cuts on Monday.
