Canadian alt-media mogul Shane Smith has sold one of his multi-million dollar homes and listed another just days after Vice announced a 10% axing of its workforce.

Smith co-founded Vice Media in 1994, but as brand growth stalled in 2018 the digital broadcaster has been forced to make cut-backs - and so has its Executive chairman, it seems.

Set to part ways with two prized properties on each end of the American coast, Smith has listed the smaller of the two homes he owns in the Palisades, California, for a cool $4.5 million.

He also appears to have found a buyer for his open-plan Manhattan duplex apartment after more than a year on the market, which is expected to fetch around $5.85 million according to Variety.

Shane Smith (pictured) co-founded Vice in Montreal, in 1994. But after falling more than $100 million short of projected revenue numbers and announcing loses of $50 million, the company will ax 10% of staff

The California residence had previously been listed for rent in 2017, with the staggering asking price of $17,500 per month.

Hidden behind a towering hedge, the five bedroom, four bathroom 'rustic-ranch' has a front yard swimming pool and utilizes 'natural and organic elements throughout', according to the listing.

The quaint 2,600 ft abode is accented with charcoal-colored stone floor tiles, floor-to-ceiling panoramic windows and features a stripped-back white brick fireplace.

The property is narrowly drawn but long, with one master bedroom resembling a tree house with its wooden paneling and sprawling view of surrounding nature.

Along with his wife Tamyka, a short film director, Smith also will be parting ways with a stunning open-plan duplex in Tribeca, they originally purchased in 2009.

An elevator opens up into the 60-foot long entertainment area of the shabby-chic styled four bedroom apartment.

True to New York style, one of the guest bedrooms is barely big enough for the bed itself, but the largest one comes equipped with dressing corridor and an en-suite bathroom.

The master bedroom occupies the whole of the top floor, and has a walk-in closet, an office, a bath-tub angled in the corner of the room and a his-and-hers bathroom.

Brooklyn-based Vice had previously been valued at $5.7 billion in 2017, but a number of set backs have reportedly diminished that valuation

Smith and his wife Tamyka (left), have listed one of their California mansions, and finally sold their New York apartment after more than a year on the market

Last week, Vice Media CEO Nancy Dubuc announced a plan to cut 10% of staff after profits fell more than a $100 million short of projections.

More than 250 workers now face the ax after the digital news platform announced a predicted loss of $50 million.

Dubuc says the company will become profitable again in the next fiscal year, and the cutbacks come as part of a new global strategy.

'Having finalized the 2019 budget, our focus shifts to executing our goals and hitting our marks,' Dubuc wrote in an email to staff at the beginning of February.

'To this end, we’ve had to make hard but necessary operating decisions. Starting today, the next phase of our plan begins as we reorganize our global workforce. Unfortunately, this means we will have to say goodbye to some of our Vice colleagues.'

Vice follows Buzzfeed it culling hundreds of jobs in an attempt to cut costs in the currently volatile digital market.

The company originally launched as an alternative culture magazine in Montreal, before transforming itself into a multi-platform media conglomerate.

In 2017, having garnered a significant investment from a private equity firm, Vice was said to be worth a staggering $5.7 billion - but that number has now declined significantly.

Vice's last staff overhaul came in July 2017, where 3% of its then 3000 workers were shown the door.

This year's announcement follows a recruitment freeze implemented by the brand in October.