Nov
29
BuzzFeed Lays Off 100 as It Shifts Business Strategy
Posted in: Uncategorized
BuzzFeed is laying off 100 employees, or 8 percent of its U.S. workforce, as it grapples with how to better generate ad revenue at a time when Google and Facebook dominate the digital market.
The layoffs will come from business operations and will not affect editorial, although some writers are expected to also lose their jobs in Britain. The news was first shared by BuzzFeed staff reporter Steven Perlberg, who tweeted an image of a company-issued memo on Twitter.
Greg Coleman, president at BuzzFeed and a media veteran with stints at Criteo the Huffington Post and AOL, will be leaving his post and become an advisor to the company, the company said.
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