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BuzzFeed to Cut 15% of Jobs
[Bloomberg] BuzzFeed is eliminating 15 percent of its headcount across the company, the latest pullback for digital-media sites dealing with a challenging advertising market.

As it trims staff, BuzzFeed has been examining the “the evolving economics of digital platforms,” Chief Executive Officer Jonah Peretti said in a memo to employees. “We’ve developed a good understanding of where we can consolidate our teams, focus in on the content that is working, and achieve the right cost structure.”

The cutbacks are part of a wave of media layoffs. Verizon Communications Inc. said earlier Wednesday that it would be cutting about 7 percent of its digital-media operations, a business that includes AOL, Yahoo and the Huffington Post. Gannett Inc. also has been laying off journalists from its collection of newspapers.

BuzzFeed, a pioneering site that spans hard news, personality quizzes and listicle-style features and bullshit, was long seen as a way for journalism to prosper in a post-print era. But growth alone hasn’t been enough to ensure success, Peretti said in his memo.
Posted by: Bright Pebbles 2019-01-24
http://www.rantburg.com/poparticle.php?ID=532724