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BuzzFeed set to lay off 15 percent of its workforce, WSJ reports

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A source told The Wall Street Journal that the company is planning to cut around 250 jobs in order to "realign its resources and invest more in content-licensing and e-commerce." According to a statement from BuzzFeed CEO Jonah Peretti, the company's current revenue growth by itself "isn't enough to be successful in the long run."

A source told The Wall Street Journal that the company is planning to cut around 250 jobs in order to "realign its resources and invest more in content-licensing and e-commerce." According to a statement from BuzzFeed CEO Jonah Peretti, the company's current revenue growth by itself "isn't enough to be successful in the long run."

  1. 23 Jan 2019

    Scoop: BuzzFeed is laying off 15% of its workforce. Story to come on wsj dot com imminently. via

    503 retweets 998 likes
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  2. 23 Jan 2019

    The goal of the cuts is to quicken the path to profitability, even though 2018 was the company’s highest revenue year on record. The company’s costs are still too high, though.

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  3. 23 Jan 2019

    I am very sorry to hear this. There are a lot of good people at BuzzFeed, and if BuzzFeed can’t figure out a healthy model for digital publishing, then something is wrong with digital publishing.

    330 retweets 1,150 likes
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  4. 23 Jan 2019

    Staffers have been bracing for bad news for days. Employees had learned senior editors were being flown into BuzzFeed's New York City offices and cuts to staff were widely speculated about internally.

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  5. 23 Jan 2019

    BuzzFeed staffers have been bracing for bad news for days. But this is particularly bad. About 220 of the company's 1,450 employees will be out.

    105 retweets 243 likes
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  6. 23 Jan 2019

    Unions are immensely helpful during shit like this and the best thing Buzzfeed people lucky enough to be unaffected by layoffs could do is start organizing ASAP

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  7. 23 Jan 2019

    Gannett. BuzzFeed. Huffington Post. Devastating week for journalism, at a time we need far more reporters, not fewer. Sending solidarity to all of my colleagues across this industry. Also, another plug for unions, so that you have some protections when shit goes down.

    188 retweets 1,031 likes
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  8. 23 Jan 2019

    BuzzFeed to lay off about 15% of its workforce as the company seeks to reorient itself

    210 retweets 388 likes
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