BuzzFeed is shutting down its news division and laying off 15 per cent of its staff.
15% of staff across the company being laid off
CBC News ·
BuzzFeed is shutting down its news division and laying off 15 per cent of its entire workforce across all business units. (Richard Vogel/The Associated Press)
BuzzFeed is shutting down its news division and laying off 15 per cent of its staff.
The media company’s CEO, Jonah Peretti, revealed the news to staff in an email on Thursday morning, according to CNN, which first reported the news.
The job cuts will amount to about 180 people.
Shares in the company were halted on the New York Stock Exchange after the company’s shares fell by 27 per cent.
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