Business

BuzzFeed to cut 15% of staff in new round of layoffs

Posted January 23, 2019 6:35 p.m. EST
Updated January 23, 2019 6:44 p.m. EST

— BuzzFeed is preparing to announce a significant round of layoffs, according to sources familiar with the matter.

The coming contraction is the latest example of digital media companies having to make cutbacks in a difficult operating environment.

One of the sources said the layoffs will affect 15% of the company's workforce. The reductions will involve multiple departments, including the news division.

Staffers have been bracing for bad news for days. Employees had learned senior editors were being flown into BuzzFeed's New York City offices and cuts to staff were widely speculated about internally.

BuzzFeed has about 1,450 employees, so about 220 will be leaving, the source confirmed.

The company has not yet announced the layoff internally, but is expected to do so on Wednesday evening.

This story is developing. Please check back for updates.