Fortune cuts 10% of staff, becomes latest media company hit with AI-driven layoffs

CEO Anastasia Nyrkovskaya says the cuts are due to a decline in web traffic and the ‘onset of AI’

Posted Wednesday, July 23, 2025 11:27 am

Sean Burch | TheWrap

Fortune Magazine, the 95-year-old business-focused publication, became the latest media outlet to cut jobs on Monday, with the magazine’s boss pointing to the rise of artificial intelligence and declining web traffic as key drivers behind the decision.

Anastasia Nyrkovskaya, the CEO of Fortune, said approximately 10% of staffers were being laid off in a memo obtained by TheWrap. The magazine has 360 full-time staffers, according to Pitchbook, which would mean a few dozen employees lost their jobs on Monday.

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Fortune cuts 10% of staff, becomes latest media company hit with AI-driven layoffs

CEO Anastasia Nyrkovskaya says the cuts are due to a decline in web traffic and the ‘onset of AI’

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