SCOOP: BuzzFeed is limiting hiring to only critical positions, and will not be adding any new jobs unless there's a business case justification, CEO Jonah Peretti told staff last week.
BuzzFeed only raised around $16.2 million of investor cash in its IPO, alongside $150 million of debt.
BuzzFeed was initially projecting around $95 million in revenue from commerce sales for 2021. It's now projecting a low single-digit percentage decline in commerce sales year-over-year, due to pandemic-related supply chain issues slowing retail sales.
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