A BuzzFeed sign is seen during the company's debut outside the Nasdaq Market in Times Square in New York City, U.S., December 6, 2021. REUTERS/Brendan McDermidsaid it will shut down its news division with an aim to consolidate its news content in HuffPost and cut its workforce by 15%, sending the shares of the digital media company down 10% on Thursday.
"We've faced more challenges than I can count in the past few years," said Peretti, blaming the pandemic and the subsequent economic downturn for the decline in the digital advertising and BuzzFeed's business. "Moving forward, we will have a single news brand in HuffPost, which is profitable, with a loyal direct front page audience," Peretti said in the note to employees.
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Readers list their top reasons buzzfeed shut down their news unit…..
go woke go? but elon bad if you cuts stuff to survive
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BuzzFeed to lay off 15% of staff, shut down BuzzFeed NewsBuzzFeed Inc. said Thursday it was laying off about 15% of its workforce and winding down BuzzFeed News as a standalone company as founder and Chief...
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BuzzFeed to shut down news division and lay off 15% staffBuzzFeed Inc said on Thursday it will shut down its news division and will cut its workforce by 15%, sending the shares of the digital media company down 10%. So Buzzfeed reported its own layoffs? thats a shame
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BuzzFeed News is shutting down as company cuts 15% of staffThe company, once a rising star in digital media, has undergone major cuts in recent years. They give the Pulitzer to anybody nowadays.
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