BuzzFeed to close news operation


Source: news.com.au news.com.au

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BuzzFeed announced Thursday that it was shutting its news division as part of layoffs, 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. "We are reducing our workforce by approximately 15 percent today... and beginning the process of closing BuzzFeed News," Peretti wrote in a memo to staff. The announcement is the latest to rock the US media landscape as outlets battle with falling reader numbers...