'BuzzFeed' To Cut Staff 15%, Focus On Content Licensing, Ecommerce 01/25/2019

Report Buzz Feed to Cut 15 Percent of Staff		Nicholas Kamm /AFP  Getty Images23 Jan 2019

Report Buzz Feed to Cut 15 Percent of Staff Nicholas Kamm /AFP Getty Images23 Jan 2019

Friday's layoffs come a little over a year after BuzzFeed cut about 100 employees.

Peretti said he would to continue to inform staff of the changes, which he believes is the "right business decision", but said he was upset and disappointed that he had to make staff redundant. The website's LGBT desk, an area of coverage in which BuzzFeed News had invested significant resources, was left with only one staffer. In tweets, BuzzFeed News journalists described the situation as "agonizing", "heartbreaking", and "surreal". BuzzFeed stands by its reporting. "I'm extremely proud of the work I've done".

Peretti said in the memo that firing part of their staff would allow them to become a "clear winner" in the market without having to raise more funding.

BuzzFeed is to further cut its cloth after announcing that 15% of its workforce, equivalent to 250 staff, are set to lose their jobs as the publisher seeks to place itself on a firmer financial footing. Among those affected was Jason Cherkis, a reporter who was a finalist for a Pulitzer in 2016. The new CEO of Verizon's media division, Guru Gowrappan, informed employees of the layoffs in an email Wednesday. Earlier in the week, it was revealed that Verizon's media division, which includes Huffpost and Yahoo, would be reduced by 800 positions.

Haggis exports get a £250,000 Burns Night boost
The men have to be careful, though, because it's the women who get the last laugh with the "Reply to the Toast to the Lassies". The cult of Burns is celebrated all year in Scotland, but a special veneration is reserved for his birthday.

In total, about 1,000 jobs have been lost in the media industry since Monday.

Each case has unique characteristics, but the root causes are the same.

Jonah Peretti, founder and CEO, Buzzfeed, speaks at The Wall Street Journal Digital Conference in Laguna Beach, California, U.S., on October 18, 2017.

While it's unclear if it played a role in the site's profitability, a January 10 Facebook update made it so users would see posts from friends and family before ones from brands and media companies. BuzzFeed is also not the only company to deliver large amounts of layoffs recently either.

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