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Read it at Recode
Millennial-focused digital-media company Mic laid off the “majority” of its staff Thursday ahead of a possible buyout deal with Bustle Digital Group, Recode reports. The employees were reportedly notified during a staff meeting. The move isn’t entirely unexpected: After Facebook canceled a news video deal with the outlet, rumors began swirling of its demise. The number of employees laid off from the New-York based company, which previously employed more than 100 people, remains unclear. Mic Publisher Cory Haik has left the company, but it appears that CEO Chris Altchek and co-founder Jake Horowitz could keep their jobs in the expected deal.