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Briefing

BuzzFeed Closes BuzzFeed News As Part of Broader Cost-Cutting

By
Martin Peers
· · Source: The Information

BuzzFeed is closing BuzzFeed News, the company announced, as part of a sweeping cost-cutting including layoffs of 15% of the company’s staff, or 180 people. The news signals the financial strain on the digital media upstart which is grappling with a weak digital ad market. In a note to staff, BuzzFeed CEO Jonah Peretti said he had overinvested in BuzzFeed News in the past “because I love their...

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