BREAKING: BuzzFeed News to shut down
division as part of wider layoffs across the company, CEO Jonah Peretti revealed in a memo Thursday morning.The venerated news division, despite winning multiple awards including a Pulitzer Prize, has long been challenged to become profitable.“We are reducing our workforce by approximately 15% today across our Business, Content, Tech and Admin teams, and beginning the process of closing BuzzFeed News,” Peretti wrote in the memo, which was obtained by Axios.
Peretti continued: “I made the decision to overinvest in BuzzFeed News because I love their work and mission so much. This made me slow to accept that the big platforms wouldn’t provide the distribution or financial support required to support premium, free journalism purpose-built for social media.”BuzzFeed and HuffPost will offer roles to some BuzzFeed News staffers
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BuzzFeed News To Shut Down As Digital Media Company Cuts Workforce By 15%BuzzFeed News, which earned as reputation as a scrappy news-breaking digital rival to legacy media brands, is shutting down. Jonah Peretti, the CEO of BuzzFeed, announced to staffers in a memo on T…
Read more »
Senate Armed Services Subcommittee Holds Hearing on UFO ReportsThe Senate Armed Services Subcommittee on Emerging Threats and Capabilities held a hearing Wednesday addressing reports of unidentified flying objects. See potential bias and similarities in coverage from FoxNews, ABC, and NewsNation:
Read more »
2 teens arrested and charged with murder in Sweet 16 party massacre that left 4 dead and 32 injured, Alabama police official says | CNNJUST IN: Two suspects have been arrested and charged with murder in the deadly shooting at an Alabama Sweet 16 birthday party.
Read more »
Live updates: Fox News appears in court as Dominion trial beginsGet live news updates on the Dominion and Fox News trial. Dominion alleges that Fox News knowingly shared false statements about its voting machines.
Read more »