BuzzFeed News, which came to the fore with discussions, will be shut down due to economic problems after CEO Jonah Peretti said “I could have managed it better”.
media and entertainment company BuzzFeedis laying off 15 percent of its employees. According to the information obtained, while BuzzFeed continues on its way, BuzzFeed News it will close. CEO Jonah Perettiin his e-mail to company personnel, that these layoffs “in business, content, technology and executive teams” stated it would.
The company’s Human Resources department is reaching out to employees affected by the layoffs, but BuzzFeed News’ job losses are being renegotiated with the News Guild. CEO Peretti said the layoffs could affect almost any division.
“We had the potential to generate much more revenue”
An NYT reporter took a note from CEO Jonah Peretti on social media. shared. Peretti in the shared note “We’ve faced more challenges in the last few years than I can count. These include a pandemic, a weakening SPAC market that provides less capital, a technology recession, a struggling economy, a declining stock market, a slowing digital advertising market, and continued audience and platform shifts.
But I also want to make it clear: As the CEO of this company, I could have managed these changes better and our leadership team could have performed better despite these circumstances. The macro environment is tough, but we had the potential to generate much more revenue than we’ve generated over the past 12 months.” he said.
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