BuzzFeed to lay off 15 percent of its workforce

[Dashinka 23,247]

BuzzFeed is preparing lay off 15 percent of its workforce, according to an internal email obtained by The Hill.

In an email sent to  BuzzFeed staff on Wednesday, CEO Jonah Peretti said the media company would be doing layoffs "next week" across the company.

"I’m writing with sad news: we are doing layoffs at BuzzFeed next week. We will be making a 15% overall reduction in headcount across the company," Peretti wrote. "I’m sending this tonight because I wanted you to hear it from me directly instead of from the press."

 

Peretti wrote in the internal memo that BuzzFeed needs to make changes to "grow sustainably for years to come."

"We've developed a good understanding of where we can consolidate our teams, focus in on the content that is working, and achieve the right cost structure to support our multi-revenue model," he wrote. "We are confident the changes we are making will put us on a firm foundation and allow us to invest and grow sustainably for years to come."

 

https://thehill.com/homenews/media/426704-buzzfeed-to-lay-off-15-percent-of-its-workforce

[TBoneTX 43,058]

Ought to start with those recent "reporters."

[Boiler 43,437]

Always wonder of any of these organisations actually make any money and if so how.

 

I would not wish anyone to lose their job but seems a very precarious business.

[jg121783 3,907]

2 minutes ago, Boiler said:

Always wonder of any of these organisations actually make any money and if so how.

 

I would not wish anyone to lose their job but seems a very precarious business.

They get contributions from certain leftist billionaires who I will leave unnamed.

[millefleur 5,035]

2 hours ago, Boiler said:

Always wonder of any of these organisations actually make any money and if so how.

They make millions of $$$ off of their YouTube channels via ad revenue. According to this article,  they make about $20,000 to $50,000 per video. And they upload videos constantly every day. Their YT channels have millions of subscribers and Google is their pal, so no worries about getting demonetized.

Edited January 24, 2019 by millefleur

[Boiler 43,437]

They may have done, a lot have been de monetised, there is a guy I sometime watch re Military History and all his Videos were yesterday, he posted about it.

 

There was one called Mic? that went under recently, they were seemingly reliant on Facebook and Google and got hit, that was down to something to do with changing algorithms.

[eieio 1,594]

Very sad news😪

 

85% are still "working"😪

[Neonred 3,446]

8 hours ago, Bill & Katya said:

BuzzFeed is preparing lay off 15 percent of its workforce...

At least it's a good start

[TBoneTX 43,058]

5 hours ago, Neonred said:

a good start

Like the answer to "what do you call 100,000 lawyers at the bottom of the ocean"...

[Voice of Reason 10,298]

Does this mean there will be 15% less fake news?

[Dashinka 23,247]

Interesting take.  Apparently these layoffs at BuzzFeed and HuffPo are because of Facebook and Google.

 

HuffPost spokesperson told CNN that the site is “investing its talents and resources to areas that have high audience engagement, differentiation and are poised for growth at a time when our mission means more than ever.” And according to BuzzFeed CEO Jonah Peretti, who reportedly suggested that employees bring dogs to work on Monday as a means of raising morale, BuzzFeed is “restructuring” to “focus in on the content that is working, and achieve the right cost structure to support our multi-revenue model.” (There is also speculation that BuzzFeed is preparing for a sale or merger.)

But employees are skeptical of these explanations, and many are laying the blame on Facebook and Google, which monopolize digital ad growth, as well as poor decisions on the management level.

“This isn’t happening because of market inefficiencies or consumer preferences or social value,” HuffPost senior reporter Zach Carter tweeted. “It’s happening because two very large companies have taken the advertising revenue that journalism outlets rely on and replaced it with nothing.”

https://www.thecut.com/2019/01/1-000-people-cut-in-huffpost-gannett-buzzfeed-layoffs.html

 

[Cyberfx1024 7,978]

I have found it quite funny to read on Reddit some of these twitter comments from these people before and now that they are being laid off. They had some seriously outrageous twitter posts within the last year and now they are being laid off. 

[Voice of Reason 10,298]

5 hours ago, Cyberfx1024 said:

I have found it quite funny to read on Reddit some of these twitter comments from these people before and now that they are being laid off. They had some seriously outrageous twitter posts within the last year and now they are being laid off. 

Karma is a...