In a note to impacted employees, Jonah Peretti, the company’s founder and chief executive, blamed the cuts on “a combination of worsening macroeconomic conditions” and changes in how people consume media. The move to cut operating costs also comes as the company’s stock hovers at an all-time low of about $1.10 per share, down nearly 90% over the past year.
In the last few weeks alone, CNN laid off hundreds of employees; newspaper chain Gannett laid off about 200 staffers; AMC Networks cut 20% of its staff; NPR said it needs to cut $10 million in costs; Disney said it will restructure its business; Paramount Global laid off some staffers; the digital news upstart The Recount reportedly made plans to shutter; and The Washington Post ended the print edition of its Sunday magazine, resulting in the layoff of 10 staffers.
Dr Hamid_Qara_Hasanlou, SamanYasin, MohammadBroghani, MohsenShekari and many of those arrested during the protests have been sentenced to death by I.R regime. They are at the risk of execution in the next few days. Please be their voice. IranRevoIution2022
Joe Biden killing the fake news that props him up. 😂
I am assured by the Biden administration that the economy is going gang busters so the problem must be at your end…
What deteriorating economic climate? The economy is stronger than it ever was under Osama Bin Donald.
“WHAT HOGWARTS HOUSE ARE YOU? TAKE THIS FUN QUIZ TO FIND OUT” isn’t journalism it’s shitty clickbait
Why haven't you covered china stealing stimulus checks 40 million
Don’t be silly buzzfeed Isn’t news