The BuzzFeed News website in 2021. Photographer: Tiffany Hagler-Geard/Bloomberg , Bloomberg
BuzzFeed Chief Operating Officer Christian Baesler and Chief Revenue Officer Edgar Hernandez are leaving as part of the cutbacks, Chief Executive Officer Jonah Peretti said Thursday in a memo to staff. About 180 positions are being eliminated there. Insider, co-founded by former Wall Street analyst Henry Blodget, began letting staffers know they are losing their jobs on Thursday and planned an all-hands meeting shortly thereafter. Workers getting let go will receive at least 13 weeks of base pay, according to a staff memo.
Once a growing online source of news and information, BuzzFeed has stalled in recent months, with advertisers pulling back and revenue in decline. Despite numerous job cuts, the company has been unable to sustain a profit.
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