BuzzFeed is cutting jobs

Mar 23, 2022
513 views
0 comments
Share
Background Checks

BuzzFeed in an attempt to increase its profitability is shrinking, it's shifting the focus of its Pulitzer prize-winning new division.

The digital media company which is well known for its light-hearted quizzes and listicles has been offering voluntary buy-outs for quite some time now. This has caused many editors to leave its high-profile 100 person newsroom. This includes prominent names such as Mark Schoofs, Tom Namako, and many more who announced their move to other news sites like NBC News Digital. Although the company's news division is not as profitable, it did win a Pulitzer last year, due to this employees are regularly poached by traditional news organizations. Buyouts will be offered to news staffers on the investigations, inequality, political and science teams as BuzzFeed focuses more on breaking news items and lighter content. Beyond the newsroom buyouts, the company said that it will cut 1.7% of its staff. BuzzFeed had previously mentioned that it had 1,524 US and international employees therefore roughly 25 employees are likely to lose their jobs.

BuzzFeed's shares fell by 40% in December after it went public, but picked up a little soon after. The layoffs may be a way to cope with a fall in profits. Other than the news division, layoffs are expected to happen in the BuzzFeed Video and the editorial side of Complex. A similar situation occurred in 2021 when BuzzFeed acquired HuffPost and laid off several of its staffers shortly. On Tuesday in a memo to the employees CEO Jonah Peretti said that the new division "will need to get smaller" and "prioritize the areas of coverage our audience connects with most".

Source: The Washington Post

513 views
0 comments

Tags In

Previous days news

Mar 16 Mar 14 Mar 13 Mar 11 Mar 9

Best tech jobs in the United States : BLS data

Sep 06, 2022
1350 views
0 comments
Background Checks

For several reasons, the IT sector is appealing to job seekers. ...Read more

Salaries for Californian fast food employees might rise to $22 per hour

Sep 06, 2022
827 views
0 comments
Background Checks

Despite the opposition of restaurant owners who worried it would raise customers' bills, California Governor Gavin Newsom on Monday signed a nation-leading law providing more than 500,000 fast food employees additional authority and rights. ...Read more

Workers leave as job dissatisfaction grows

Aug 17, 2022
1380 views
0 comments
Background Checks

Demands for improved pay and workplace environments are coming from workers in California to New York. ...Read more

Microsoft offers graduates from African nations job prospects in the US & Canada

Aug 17, 2022
815 views
0 comments
Background Checks

New graduates from institutions in Nigeria and other African nations have been made aware of job prospects by Microsoft. ...Read more

Casper is hiring professional sleepers

Aug 10, 2022
1390 views
0 comments
Background Checks

A mattress company is searching for a role where napping while working is not only acceptable but also required. 'Casper Sleepers' are being hired by Casper, a New York-based business established in 2014. ...Read more

BuzzFeed is cutting jobs

BuzzFeed is cutting jobs

Tags In

Others news

Category

Tags

Articles