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The CEO of BuzzFeed, Jonah Peretti, has announced that BuzzFeed News is shutting down. Peretti said the media organization has been operating at a loss for several years and that it is winding down operations. In a memo to employees, the CEO said 180 staffers or 15% of the company’s employees will also have to leave
BuzzFeed will lay off 15% of staff and will shut down its news unit, BuzzFeed CEO Jonah Peretti wrote in an email to staff Thursday.
CEO Jonah Peretti wrote in a memo that "the company can no longer continue to fund BuzzFeed News as a standalone organization."
The parent company of the site that took the news business by storm in the early 2010s is being shut down, CNN's Oliver Darcy was first to report.
BuzzFeed News, a Pulitzer Prize-winning newsroom, is being shut down. The shutdown is happening as part of a new round of layoffs.