BuzzFeed News, which famously published Steele dossier, shutting down as company slashes headcount
Fox News
BuzzFeed News, the liberal website that famously published the Steele dossier in 2017, is shutting down, CEO John Peretti announced on Thursday.
"We are reducing our workforce by approximately 15% today across our Business, Content, Tech and Admin teams, and beginning the process of closing BuzzFeed News. Additionally, we are proposing headcount reductions in some international markets," BuzzFeed CEO John Peretti wrote in a memo to staffers obtained by Fox News Digital. Brian Flood is a media reporter for Fox News Digital. Story tips can be sent to brian.flood@fox.com and on Twitter: @briansflood.
The company currently has roughly 1,200 employees, meaning roughly 180 jobs will be lost. CRO Edgar Hernandez and COO Christian Baesler are leaving the company, and BuzzFeed President Marcela Martin will take on responsibility for all revenue functions effective immediately.
"Impacted employees (other than those in BuzzFeed News) will receive an email from HR shortly. If you are receiving this note from me, you are not impacted by today’s changes. For BuzzFeed News, we have begun discussions with the News Guild about these actions," Peretti continued. "The changes the Business Organization is making today are focused on reducing layers in their organization, increasing speed and effectiveness of pitches, streamlining our product mix, doubling down on creators, and beginning to bring AI enhancements to every aspect of our sales process."
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