BuzzFeed says shutting down newsroom: CEO memo / Photo: Bennett Raglin - GETTY IMAGES NORTH AMERICA/AFP/File
-
Odobert ACL tear adds to Spurs injury crisis
-
Marseille aim to pick up pieces after De Zerbi departure
-
UK nursery worker jailed for 18 years for 'wicked' serial child sex abuse
-
HK firm CK Hutchison threatens legal action if Maersk takes over Panama ports
-
Trump ends immigration crackdown in Minnesota
-
UN climate chief says 'new world disorder' hits cooperation
-
Lowe returns to much changed Ireland side for Italy Six Nations match
-
Two Mexican navy ships arrive with humanitarian aid for Cuba
-
Belgian museum blocks US firm's access to DRC mining files
-
Death toll in Madagascar cyclone rises to 38, 12,000 displaced
-
Judge sets Feb 2027 date for Trump's $10bn lawsuit against BBC
-
Russia is cracking down on WhatsApp and Telegram. Here's what we know
-
Backflips and quads galore: US skater Malinin hits new heights in Milan
-
Stocks rise as all eyes on corporate earnings
-
France bets on nuclear power to phase out fossil fuels
-
Italy bring in Pani for Brex to face Ireland in Six Nations
-
Counting underway in first Bangladesh polls since deadly uprising
-
Norway police search ex-PM Jagland's properties in probe over Epstein links
-
Back flips and quads galore: US skater Malinin hits new heights in Milan
-
'Madness': Ukrainians furious over Olympian ban for memorial helmet
-
UEFA position on Russia ban 'has not changed', says Ceferin
-
Cooper wins Olympic freestyle moguls gold after dramatic tie-break
-
Italy's 'naval blockade' to stem migration too vague, critics say
-
Turkey's central bank lifts 2026 inflation forecasts
-
Tottenham 'not a big club' says Postecoglou after Frank sacking
-
Belgian police raid EU commission in real estate probe
-
Zelensky blasts Olympics ban for Ukrainian athlete over memorial helmet
-
Pro-Kremlin accounts using Epstein files to push conspiracy: research
-
Odermatt sets sights on Olympic giant slalom -- and gold
-
Cinema's power to 'change the world' in focus at Berlin Film Fest
-
France pick uncapped Brau-Boirie in new centre pairing for Wales
-
Man Utd's Ratcliffe's apologises for 'language' on immigration
-
UK economy struggles for growth in fresh blow to government
-
EU vows swift reforms to confront challenge from China, US
-
UK nursery worker faces jail for serial child sex abuse
-
Anti-racism body slams Man Utd co-owner for 'disgraceful' immigration comments
-
Mercedes-Benz net profit nearly halves amid China, US woes
-
Comeback queen Brignone wins super-G at Winter Olympics
-
European stocks rise tracking earnings, US jobs
-
Hermes sales rise despite US tariffs, currency headwinds
-
Russia confirms ban on WhatsApp, says it failed to abide by law
-
Ukraine skeleton racer Heraskevych banned from Olympics over memorial helmet
-
Pro-Kremlin accounts using Epstein files to push conspiracy: AFP research
-
France picked uncapped Brau-Boirie at centre to face Wales
-
Thomas Tuchel extends contract as England coach until Euro 2028
-
England coach Tuchel set to sign new deal until 2028 - report
-
Death toll in Madagascar cyclone rises to 35
-
Shanaka fireworks as Sri Lanka thrash Oman at T20 World Cup
-
Sanofi says board has removed CEO Paul Hudson
-
Struggling Nissan forecasts $4.2 bn full-year net loss
BuzzFeed says shutting down newsroom: CEO memo
BuzzFeed announced Thursday that it was shutting its news division, signalling the end of one of the most notable news websites of the internet era.
"We are reducing our workforce by approximately 15 percent today... and beginning the process of closing BuzzFeed News," chief executive Jonah Peretti wrote in a memo to staff.
BuzzFeed shares plunged more than 20 percent on Wall Street following the news.
"We've determined that the company can no longer continue to fund BuzzFeed News as a standalone organization," said Peretti.
He cited a number of challenges, including the coronavirus pandemic, the declining stock market and a recession in the tech sector.
"Dealing with all of these obstacles at once is part of why we've needed to make the difficult decisions to eliminate more jobs and reduce spending," he said.
"Moving forward, we will have a single news brand in HuffPost, which is profitable, with a loyal direct front page audience," he wrote.
He added that the company would offer some jobs at HuffPost and BuzzFeed.com to BuzzFeed News staff members.
BuzzFeed News was founded in late 2011, and became a symbol of a new wave of internet media companies.
H.Nasr--SF-PST
