BuzzFeed says shutting down newsroom: CEO memo / Photo: Bennett Raglin - GETTY IMAGES NORTH AMERICA/AFP/File
-
Serena set for remarkable Wimbledon return
-
Stocks climb, yen stays near 40-year low against dollar
-
Outgoing UK PM Starmer announces 'record' defence spending
-
Swim star Marchand limps out of French nationals as Europeans loom
-
Paralluelo joins Barca women's departures
-
UN says transport infrastructure must adapt to climate
-
Police hunt for Monaco bomb suspect after Ukrainian-born businessman wounded
-
Sommer, Acerbi, Darmian, De Vrij leave Inter Milan
-
Sommer, Acerbi, Darmian leave Inter Milan
-
Germany's labour market dilemma: rising unemployment despite vacancies
-
'Waiting like torture': Turks despair as Schengen visa delays mount
-
Skating allows Russian, Belarussians to return as neutrals
-
Venezuela rescuers in final push to find survivors as families mourn
-
Russian double Olympic figure skating champion Dmitriev dies aged 58
-
Over 1 million migrants apply for Spain's mass regularisation: PM
-
S. Africa deploys police as anti-migrant protests loom
-
Thousands from Philippine sect protest pro-Duterte senator's graft case
-
Monaco parcel bomb blast wounds Ukrainian oligarch
-
South Africa repatriations top 25,000 ahead of anti-immigrant ultimatum
-
Sweden face France's attacking firepower at the World Cup
-
Taiwan raids tech firms in China AI chip smuggling probe
-
Online same-sex romance series embrace AI 'freedom'
-
Morocco 'unstoppable' says coach after Netherlands thriller
-
New Oxford academic centre symbolises UK's big-donor era
-
Russia's small businesses pay the price of spiralling Ukraine war
-
Trump says Iran meeting set in Qatar, despite uncertainty
-
Paraguay shock Germany as Brazil, Morocco advance at World Cup
-
Morocco down Netherlands to reach World Cup last 16
-
NASA robot mission aiming to rescue space telescope
-
Asian stocks unable to track Wall St higher, yen holds at 40-year low
-
Mouse-that-roared Paraguay savors World Cup win over Germany
-
'We came from nothing': DR Congo dreams of England World Cup upset
-
Taiwan's ageing seaweed harvesters hope younger women wade in
-
Peruvian political heir Fujimori wins presidency
-
Key Venezuela port opens with US aid, as burials begin
-
What to expect as EU small parcel levy kicks in
-
Ambitious Japan search for answers after World Cup exit
-
Nagelsmann says won't 'run away' after Germany World Cup exit
-
How NATO will try to keep Trump happy at Ankara summit
-
Paraguay coach salutes 'extraordinary' World Cup win over Germany
-
Ultra-wealthy Chinese exile in New York sentenced to 30 years for fraud
-
Japan fans stunned as Brazil end their World Cup dream
-
Years on, families bury 68 Indigenous victims of Guatemala civil war
-
'Powerhouse' Haaland leads by example at World Cup: Norway coach Solbakken
-
'Deliberate' Monaco explosion wounds Ukrainian oligarch
-
Sadness and joy as breakaway Catholic group nears schism
-
Paraguay shock Germany, Brazil advance at World Cup
-
Multi-Billion-Dollar Global Sports Brand U.S. Polo Assn. Earns Global Awards and Recognitions Across Business, Sport, and Content Categories
-
HUNTING/HER Headhunter Talk with EnBW Board Member & CHRO Colette Rückert-Hennen
-
Affiliate of Pacific Avenue Capital Partners Completes Acquisition of ESE World from Amcor
BuzzFeed says shutting down newsroom: CEO memo
BuzzFeed announced Thursday that it was shutting its news division, signalling the end of one of the most notable news websites of the internet era.
"We are reducing our workforce by approximately 15 percent today... and beginning the process of closing BuzzFeed News," chief executive Jonah Peretti wrote in a memo to staff.
BuzzFeed shares plunged more than 20 percent on Wall Street following the news.
"We've determined that the company can no longer continue to fund BuzzFeed News as a standalone organization," said Peretti.
He cited a number of challenges, including the coronavirus pandemic, the declining stock market and a recession in the tech sector.
"Dealing with all of these obstacles at once is part of why we've needed to make the difficult decisions to eliminate more jobs and reduce spending," he said.
"Moving forward, we will have a single news brand in HuffPost, which is profitable, with a loyal direct front page audience," he wrote.
He added that the company would offer some jobs at HuffPost and BuzzFeed.com to BuzzFeed News staff members.
BuzzFeed News was founded in late 2011, and became a symbol of a new wave of internet media companies.
L.E.Campos--PC
