In a memo sent to staff, co-founder and CEO Jonah Peretti said that cuts would also occur across its business, content, tech and administrative teams, according to multiple media reports. BuzzFeed is also considering making job cuts in some international markets.
Peretti said in a memo to staff that he “made the decision to overinvest” in the news division, but failed to recognize early enough that the financial support needed to sustain operations was not there.“I’ve learned from these mistakes, and the team moving forward has learned from them as well,” Peretti wrote. “We know that the changes and improvements we are making today are necessary steps to building a better future.
BuzzFeed, founded by Peretti in 2006 and initially known for listicles and online quizzes, had established itself as a serious contender in the news business, winning a Pulitzer in 2021 for international reporting.
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