BuzzFeed Laying Off 35% of Its Employees After Byron Allen Takes Over Company
BuzzFeed is slashing its workforce on the heels of the digital media company’s deal to sell a controlling ownership stake to entrepreneur and comedian Byron Allen. The company disclosed that it is laying off about 35% of its current employees and contractors.
Reported by 1 outlet — Variety. See all sources ↓
BuzzFeed is slashing its workforce on the heels of the digital media company’s deal to sell a controlling ownership stake to entrepreneur and comedian Byron Allen. The company disclosed that it is laying off about 35% of its current employees and contractors. “The reduction in workforce plan is intended to advance the Company’s path towards profitability and positive cash flow generation by streamlining its organizational structure, optimizing operating expenses, and preserving cash,” BuzzFeed said in an SEC filing Monday. The move will eliminate about 180 jobs across BuzzFeed, including in its HuffPost and Tasty divisions.
Read the full report at Variety ↗
Why it matters
A world story we're tracking; its significance and source trust firm up as more outlets confirm it.
- What's the story?
- BuzzFeed is slashing its workforce on the heels of the digital media company’s deal to sell a controlling ownership stake to entrepreneur and comedian Byron Allen. The company disclosed that it is laying off about 35% of its current employees and contractors.
- How widely is it covered?
- 1 outlet, average source rating 6.0/10.
- When was it last updated?
- 6m ago.
How outlets are framing the same story
Here's how each outlet is covering the story — compare their headlines and timing at a glance.
- Coverage card1 outlet1CoverageScouting report
BuzzFeed Laying Off 35% of Its Employees After Byron Allen Takes Over Company
Sources1TypeCoverageVariety