Page 38 - Buzzfeed News Today

Capital, sanaa during a charity event for ramadan. reports say the guards fired shots causing people to panic and rush for the exit. buzzfeed has announced its closing down its news site and cutting 15% of its workforce. the companys chief executive, jonah peretti, blamed the decision on financial challenges, a slowdown in digital advertising and the coronavirus pandemic. he said the firm would concentrate its news output on the huffpost website, which it took over in 2021. the most powerful spa...

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In shocking news to the global media industry, the Pulitzer Prize-winning news arm of BuzzFeed.com is being shut down, CEO Jonah Peretti announced on Thursday.

‘Moving forward, we will have a single news brand in HuffPost, which is profitable, with a loyal direct front page audience,’ Peretti said in the note to employees

BuzzFeed has reportedly never been profitable.

BuzzFeed CEO Jonah Peretti told employees on Thursday that BuzzFeed News would be shutting down as part of a company-wide workplace reduction.

BuzzFeed shares plunged more than 20% on Wall Street following the news.

BuzzFeed announced Thursday that it was shutting its news division as part of cost-saving cuts, signalling the end of one of the most notable news websites of the internet era.

The company cited challenges including recession in the tech sector and the struggling stock market, with CEO Jonah Peretti admitting he was partly at fault for the closure

Company founder and CEO Jonah Peretti made the announcement in a memo to staff, describing the workforce cuts as “deeply painful decisions.”