BuzzFeed is reorienting and shrinking its news division as the digital media company best known for its lighthearted lists and quizzes strives to increase its profitability
FILE - The entrance to BuzzFeed in New York is seen on Nov. 19, 2020. In news announced Tuesday, March 22, 2022, BuzzFeed is reorienting and shrinking its news division as the digital media company best known for its lighthearted quizzes strives to increase its profitability.
The New York-based company is offering voluntary buyouts in its high-profile, 100-person newsroom and some top editors are leaving. They include Mark Schoofs, the editor in chief of BuzzFeed News, and deputy editor in chief Tom Namako, who announced a move to NBC News Digital on Tuesday. Ariel Kaminer, the executive editor for investigations, is also leaving.last year, and its staff has been regularly poached by traditional news organizations.
Beyond the newsroom buyouts, the company also said it is cutting 1.7% of its staff. In a January filing with securities regulators, Buzzfeed said it had 1,524 U.S. and international employees, so the cuts would amount to roughly 25 people.in early December via what's known as a SPAC, merging with a company that already trades, rather than an IPO.The company had a solid year in 2021, it reported Tuesday in its earnings release. Its revenue rose 24% to $397.
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