Buzzfeed, mostly known for dumb quizzes and silly lists, is going to have to layoff more of its "journalists," the company announced this week.
They join other tech and journalism companies that are facing massive financial issues in this economy.
From the Daily Caller:
BuzzFeed announced another round of layoffs as share prices reach all-time lows.
In a new regulatory filing released Tuesday, BuzzFeed announced it would be laying off approximately 12% of its workforce.
Oh man, it's so so sad that the wokescolds over at Buzzfeed are going to have to find another job where their entire qualifications consist GIF compilations, quizzes, and lecturing you on the latest woke thing.
"The reduction in workforce plan is intended to reduce the Company's costs in response to a combination of factors, including (i) challenging macroeconomic conditions; (ii) completing the integration of Complex Media … and eliminating redundancies where they exist in both functions and teams and (iii) an ongoing audience shift to short-form, vertical video, which is still developing from a monetization standpoint."
BuzzFeed said it expects to complete the layoffs by the end of the first quarter in 2023.
CEO Jonah Peretti said in a letter to employees that the company's "revenues are being impacted by a combination of worsening macroeconomic conditions, and the ongoing audience shift to vertical video."
Rough days ahead for lefty "journalists."
