BuzzFeed News Shuts Down
15% of the company workforce will be axed.
Pulitzer Prize-winning digital news website BuzzFeed News will shut down soon. The move, decided by BuzzFeed chief executive Jonah Peretti, will slash 15% of the company workforce, around 180 employees. Peretti said in a memo to staffers that some of them might be able to find roles at HuffPost, the digital news website that BuzzFeed acquired in a 2020 deal.
“HuffPost and BuzzFeed Dot Com have signaled that they will open several select roles for members of BuzzFeed News,” Peretti told employees. “These roles will be aligned with those divisions’ business goals and match the skills and strengths of many of BuzzFeed News’ editors and reporters.”
Peretti said that the economic environment had played a role in the moves announced Thursday, but he also took part of the blame. “I also want to be clear: I could have managed these changes better as the CEO of this company, and our leadership team could have performed better despite these circumstances,” he stated.
The future of the BuzzFeed News website is still under discussion, even if a spokesperson of BuzzFeed clarified that “all the work will be archived and available after the newsroom shutters.”
In January, BuzzFeed announced it would use artificial intelligence to create content for its website. The announcement sent its stock spiking more than 150% before it ultimately fell back to where it was, reflecting the broader uncertainty in the industry.
Source: CNN
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15% of the company workforce will be axed.
Pulitzer Prize-winning digital news website BuzzFeed News will shut down soon. The move, decided by BuzzFeed chief executive Jonah Peretti, will slash 15% of the company workforce, around 180 employees. Peretti said in a memo to staffers that some of them might be able to find roles at HuffPost, the digital news website that BuzzFeed acquired in a 2020 deal.
“HuffPost and BuzzFeed Dot Com have signaled that they will open several select roles for members of BuzzFeed News,” Peretti told employees. “These roles will be aligned with those divisions’ business goals and match the skills and strengths of many of BuzzFeed News’ editors and reporters.”
Peretti said that the economic environment had played a role in the moves announced Thursday, but he also took part of the blame. “I also want to be clear: I could have managed these changes better as the CEO of this company, and our leadership team could have performed better despite these circumstances,” he stated.
The future of the BuzzFeed News website is still under discussion, even if a spokesperson of BuzzFeed clarified that “all the work will be archived and available after the newsroom shutters.”
In January, BuzzFeed announced it would use artificial intelligence to create content for its website. The announcement sent its stock spiking more than 150% before it ultimately fell back to where it was, reflecting the broader uncertainty in the industry.
Source: CNN
Share:
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