MediaUS

BuzzFeed Layoffs

April 2023

BuzzFeed announced a layoff affecting 180 employees (15% of its workforce) in April 2023. The company operates in the Media sector.

People Affected

180

Percentage

15%

Announced Date

Apr 20, 2023

About

BuzzFeed is shutting down its BuzzFeed News division and laying off approximately 180 employees, representing 15% of its workforce, as announced by CEO Jonah Peretti in April 2023. The decision stems from the division's inability to achieve profitability, with Peretti citing overinvestment in a model dependent on social media platforms that failed to provide sufficient financial support. The digital media company will now consolidate its news efforts into HuffPost, which it acquired in 2020 and describes as profitable and less reliant on social platforms. While layoffs affect nearly all divisions, BuzzFeed.com will continue operating, and the company plans to focus on innovation involving creators and AI, though it states no jobs are being replaced by AI.