BuzzFeed shutters news unit, cuts 15% of staff
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BuzzFeed (BZFD) to layoff 15% of employees, close down news division
April 20, 2023 11:47 AM EDTBuzzFeed (NASDAQ: BZFD) shares dropped over 20% Thursday after the company confirmed in a filing that it is cutting 15% of its current workforce and closing BuzzFeed News.
The company said the workforce reduction is part of a broader strategic reprioritization across the company to accelerate revenue growth and improve upon profitability and cash flow. It... More
BuzzFeed (BZFD) Confirms Plans to Cut 15% of Workforce
April 20, 2023 11:22 AM EDTBuzzFeed (NASDAQ: BZFD) disclosed:
On April 20, 2023, BuzzFeed, Inc. (the Company), announced plans to reduce expenses by implementing an approximately 15 percent reduction in the current workforce. A copy of a corporate communication shared internally is attached as Exhibit 99.1 to this report.
The reduction in workforce plan is part of a broader strategic reprioritization across the Company in order to accelerate revenue growth and improve upon profitability and cash flow. The Company expects to substantially complete the reduction in workforce plan by the end of the second quarter of 2023.
Where required, worker adjustment and... More
