Online publishing site Medium to cut 50 jobs, change business model

(Reuters) – U.S.-based online publishing platform Medium said it would slash its workforce by a third, or eliminate 50 jobs, close two offices as the company changes its ad-driven business model. The company’s ad-driven publishing model was “becoming an extension of a broken system”, Chief Executive Evan Williams wrote in a post. Medium allows users, including companies and media outlets, to post blogs that readers can annotate.

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