Digital media company BuzzFeed said it's reducing its workforce by 12% in order to weather the economic downturn that it expects will continue into next year.
Evercore ISI senior managing director Mark Mahaney reveals which stocks could outperform if the US economy is hit with a recession on 'Varney & Co.'
BuzzFeed announced Tuesday that it's reducing its workforce in an attempt to "weather the economic downturn" that it projects will extend into 2023. "We are reducing our workforce by approximately 12% and letting many talented colleagues go," CEO Jonah Peretti wrote in a letter to affected workers. Peretti said the company must adapt, invest in the strategy that serves its audience best and readjust its cost structure.
"Our revenues are being impacted by a combination of worsening macroeconomic conditions, and the ongoing audience shift to vertical video, which is still developing from a monetization standpoint," Peretti said. "That requires us to lower our costs."
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
BuzzFeed Announces 12% Reduction Of WorkforceBuzzFeed announced that it was cutting the size of its workforce by 12%, the latest media company to go through layoffs amid worsening economic conditions. In a filing with the SEC, the company cit…
Weiterlesen »
BuzzFeed Plans to Cut 12% of Workforce as Challenges MountBuzzFeed plans to cut 12% of its workforce as a result of worsening economic conditions and challenges in the digital-media business, the company said in a securities filing Tuesday
Weiterlesen »
BuzzFeed to Layoff 12 Percent of Staff in Another Media BloodbathThe changes will take effect by the first quarter of 2023, and it comes nine months after the company bought out most of its news section in a sweeping penny-pinching move.
Weiterlesen »
BuzzFeed cutting 12 percent of workforce as CEO warns of downturnCEO Jonah Peretti said he expected the economic downturn to extend well into 2023.
Weiterlesen »
BuzzFeed to Cut 12% of Its WorkforceBuzzFeed on Tuesday announced plans to cut its workforce by nearly 12%, or around 180 staffers.
Weiterlesen »