BuzzFeed's New Owner Slashes a Third of Staff

BuzzFeed's latest act of digital-age downsizing just wiped out more than a third of its remaining staff. New owner Byron Allen on Monday cut about 180 jobs across the company, hitting HuffPost, Tasty, and BuzzFeed's film and TV studio, according to an internal memo. Management said it had tried to avoid cuts but "the elimination of certain roles is still required," reports the New York Times. "We are extremely fortunate that Byron has enormous confidence in our management team and moved very quickly to reposition this company and unlock its value," said BuzzFeed in a statement, per the Los Angeles Times.

The move is one of Allen's first big swings since buying BuzzFeed for $120 million in May, inheriting a company that was burdened by more than $58 million in debt and warning investors it might have to shut down. Founder Jonah Peretti, who closed BuzzFeed News in 2023, has stepped away as CEO to focus on AI ventures, while Allen pitches a future built around streaming and user-generated content. Allen also took over Stephen Colbert's former Late Show time slot on CBS.