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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: 1) by Ethanol-fueled on Friday January 25 2019, @03:12PM
The Democrats are going insane because their leadership are some combination of Jewish and Alzheimer's. People tend to get really crabby when the dementia starts setting in.
You wanna know where Ruth Bader Ginsburg is? Pelosi flew her back to her beloved Isreal, where Ruth can peacefully pass away in the country she spent her life spying and fighting for, the only country she ever loved.