BuzzFeed News Shutting Down, CEO Says
BuzzFeed is shutting down its news division, the company’s CEO said on April 20.
“I am writing to announce some difficult news,” Jonah Peretti, the founder and CEO of BuzzFeed, told employees in a memorandum.
The company is closing BuzzFeed News as part of an effort to cut 15 percent of its workforce.
“While layoffs are occurring across nearly every division, we’ve determined that the company can no longer continue to fund BuzzFeed News as a standalone organization,” Peretti said.
BuzzFeed News articles will remain available, and stories already in the works will be published on BuzzFeed properties, a source at the company told The Epoch Times….