New York HuffPost officially merged with BuzzFeed on February 16. Less a month later, the site's staff is being dramatically cut.
BuzzFeed CEO Jonah Peretti announced Tuesday that 47 of the 190 HuffPost employees in the US would be laid off and that HuffPost Canada would be shut down, affecting 23 employees. HuffPost union said the cuts in the US affected 33 of its members, representing 30% of its unit. Peretti told staffers that the cuts were made to manage costs, adding that HuffPost's losses exceeded $20 million last year and would be estimated to be similar this year.
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All those tens of thousands spent on prep schools and private universities down the drain!