After more than a decade, BuzzFeed will shut down their news division as they lay off 180 employees or 15% of their workforce.
The Pulitzer Prize-winning BuzzFeed News will stop their operations as they remove 15% of their workforce or 180 employees.
“While layoffs are occurring across nearly every division, we’ve determined that the company can no longer continue to fund BuzzFeed News as a standalone organization,” as told by BuzzFeed’s chief executive officer Jonah Peretti.
“This made me slow to accept that the big platforms wouldn’t provide the distribution or financial support required to support premium, free journalism purpose-built for social media,” Peretti said.
BuzzFeed was founded in 2006 while BuzzFeed News was established on November 2011. They will prioritize their operations in the news force towards HuffPost, a news website that they have acquired in November 2020.
YugaTech.com is the largest and longest-running technology site in the Philippines. Originally established in October 2002, the site was transformed into a full-fledged technology platform in 2005.
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