BuzzFeed to shut down news division and lay off 15% staff

Variety
20-04-2023 | 12:03
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BuzzFeed to shut down news division and lay off 15% staff
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BuzzFeed to shut down news division and lay off 15% staff

BuzzFeed Inc. (BZFD.O) said on Thursday it will shut down its news division and will cut its workforce by 15%, sending the shares of the digital media company down 10%.

The layoffs will affect 180 employees in teams including business, content, tech and admin teams, CEO Jonah Peretti said in an email to staff.

Trading in the company's shares had earlier halted after the stock sank 26%.
 
 

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