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CNN is reporting BuzzFeed to Cut 15% of Staff in New Round of Layoffs:
BuzzFeed is preparing to lay off about 15% of its employees. The coming contraction is the latest example of a media company making cutbacks in a difficult operating environment.
The reductions will affect multiple departments, including the news division, according to sources familiar with the matter.
BuzzFeed has about 1,450 employees, so about 220 will be leaving, one of the sources confirmed.
BuzzFeed CEO Jonah Peretti confirmed the sharp cut on Wednesday after reporters from other news outlets began inquiring.
The layoffs, he said in an internal memo, are part of a broader effort to "put us on a firm foundation and allow us to invest and grow sustainably for years to come."
After "extensive work" in the past few months, "we've developed a good understanding of where we can consolidate our teams, focus in on the content that is working, and achieve the right cost structure to support our multi-revenue model," Peretti wrote.
As Google and Facebook gobble up an increasing share of on-line advertising sales, what do on-line services have to do in order to survive?
(Score: 2, Insightful) by realDonaldTrump on Friday January 25 2019, @03:08AM (1 child)
CNN is being torn apart from within based on their being caught in a major lie and refusing to admit the mistake. Sloppy Carl Bernstein, a man who lives in the past and thinks like a degenerate fool, making up story after story, is being laughed at all over the Country!
We're winning, folks. And this is a great day for our Country. Because same thing is happening now at Buzzfeed. Even the Witch Hunt Hoaxers say Buzzfeed is Fake News. "Buzzfeed’s description of specific statements to the Special Counsel’s Office, and characterization of documents and testimony obtained by this office, regarding Michael Cohen’s Congressional testimony are not accurate." Peter Carr, spokesman for the Mueller Witch Hunt. Very appropriate statement. Much appreciated!
Remember it was Buzzfeed that released the totally discredited "Dossier," paid for by Crooked Hillary Clinton and the Democrats (as opposition research), on which the ENTIRE Russian probe is based!
Many people are saying that the Mainstream Media will have a very hard time restoring credibility because of the way they have treated me over the past 3 years (including the election lead-up), as highlighted by the disgraceful Buzzfeed story & the even more disgraceful coverage!
I just cannot state strongly enough how totally dishonest much of the Media is. Truth doesn’t matter to them, they only have their hatred & agenda. This includes Fake Books, which come out about me all the time, always anonymous sources, and are pure fiction. Enemy of the People!
(Score: -1, Troll) by Anonymous Coward on Friday January 25 2019, @04:12AM
http://www.humorpower.com/art-rulethree.html [humorpower.com]