Vox Media, the DC-based online publisher, announced on Friday that it will furlough 9% of its employees to cut costs due to the current advertising slump. The move will run from May to July, and impact 100 employees. Vox is one of the DC region’s brightest media startup companies, with publications that include Vox, Recode, The Verge, SB Nation, New York Magazine, and many others.

“We’ve already seen a decline in our business,” wrote Jim Bankoff. “Weakness in March, driven by the cancellations of SXSW and March Madness, the collapse of travel, sports and fashion-related advertising, and other factors led us to miss our revenue goals by several million dollars in the first quarter; the impact will be significantly greater in the second quarter.”