BuzzFeed is laying off 15% of its workforce, about 180 employees, and is closing its BuzzFeed News division, according to an internal announcement made by group CEO John Peretti to employees on Thursday.
“While layoffs are occurring in almost every department, we have decided that the group can no longer continue to fund BuzzFeed News as an entity in its own right,” Jonah Peretti told staff, CNN and NBC reported.
“We will therefore be working with News Guild on our cost cutting plans and what this will mean for affected union members,” Jonah Peretti added in an internal email.
The BuzzFeed group will continue to deliver news through the Huffington Post, and BuzzFeed News employees are likely to be consumed by the medium, which is “profitable with a loyal audience,” the email said.
Source: Kathimerini
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