Workers of BuzzFeed News's union walk off their jobs for a day
As BuzzFeed decides to go public in a few days, it could mean millions of dollars for its early investors and some current and former staff members. However, not everyone at the company was cheering. The union employees of the company's Pulitzer-winning news division announced on Thursday that they were “walking off the job for one day” in an effort to speed contract negotiations. All 61 employees of the BuzzFeed News Union which includes reporters, editors and designers are taking part in the day-long work stoppage.
The employee walkout comes on an important day of the company- BuzzFeed’s shareholders were scheduled to vote Thursday on a long-in-the-works plan to make the company public by merging it with a blank check company, 890 5th Avenue Partners, a deal that was announced in June. The company is also targeting a valuation of $1.5 billion. If this plan wins the shareholder's approval, the company could make its stock market debut as soon as Monday, under the ticker symbol BZFD.
Source: The New York Times
The employee walkout comes on an important day of the company- BuzzFeed’s shareholders were scheduled to vote Thursday on a long-in-the-works plan to make the company public by merging it with a blank check company, 890 5th Avenue Partners, a deal that was announced in June. The company is also targeting a valuation of $1.5 billion. If this plan wins the shareholder's approval, the company could make its stock market debut as soon as Monday, under the ticker symbol BZFD.
Source: The New York Times
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