Breitbart-
According to new reports, the Internet news company BuzzFeed will lay off about 15 percent of its workers in response to growing financial pressure.
BuzzFeed, which produces both light-hearted viral content as well as reporting in its news department, has long been thought of as an Internet media success story.
However, there have been major issues for online news companies over the last year or so as many have struggled to keep up with Facebook’s news algorithms and make enough money to support large staffs with small profit margins.
The New York Times reports:
BuzzFeed, often hailed as the future of publishing and a leading producer of digital content, plans to lay off 15 percent of its work force, or about 200 employees, according to a memo sent to the staff on Wednesday night.
…
The move is meant to trim costs and maintain growth as the company aims to hit profitability this year. BuzzFeed, which employs over 1,300 people, generated more than $300 million in revenue in 2018. That was a jump of better than 15 percent from the previous year, but the company still loses money.
This news comes for BuzzFeed just after they published a major news scoop about Russia that quickly fell apart.
The company has cut staff before. In November 2017, it fired about 100 employees. Vice Media, another supposed media success story, also announced their decision to fire 15 percent of its employees in 2018. more here
…don’t get excited. It was probably just the few that told them running the Trump story was stupid, and they were fired for heresy, not finances.
…im sure Papa Soros has their back, money-wise…
I think it should read: NBC TO CUT 15 PERCENT OF BUZZFEED STAFF
Trust me, when NBC subsidizes them to the tune of over $400 MILLION dollars, they get a say in whut happens around there!
TRF –
You beat me to it….400,000,000 from NBC
Awww… wotta shame. All those poor, unemployed, scuzzy-types… 😉
“as many have struggled to keep up with Facebook’s news algorithms”
They always find an excuse other than the truth, which is that people don’t want to read a bunch of lies once their eyes are opened to the fact that you’re a liar.
Are the cuts coming off the top, the sides or the stinky bottom?
Must be hard to get sponsors for phony news…but then maybe not.
$230,769 per person and they’re losing money?
I’m guessing they got a leak …
izlamo delenda est …
@tim
I would like to see the books. $300 is quite a budget.
@Supernightshade January 24, 2019 at 8:03 am
> …im sure Papa Soros has their back, money-wise…
The reason the true “true conservatives” never win. (No, you can NOT win the war, if you intend to lose EVERY battle.)
The People On The Right Side Of History™ (including True Conservatives™) take care of their own. It’s always a good bet to strike (For The Party!). Worst case, you gain glory, against a (temporary) reduction in pay grade.
True “true conservatives” insist you “stand on your own”. Which means “stand alone”. (Of COURSE not, “I’ve got mine. Fnck you!”) Unless there’s stacks o’cash to be made, and little to no risk, no true “true conservative” should EVER risk taking a run at the People On The Right Side Of History™. That’s just new ruler grade math.
My wife sent me a scuzzfeed article about 17 Reasons Why People Love Dachshunds.
I promptly responded. Don’t send me this shit!
She asked if I didn’t like dachshunds anymore.
“BuzzFeed, often hailed as the future of publishing and a leading producer of digital content, plans to lay off 15 percent of its work force, or about 200 employees”
That is the most unintentionally accurate analysis.
Lousy arrogant and disgusting. Rememeber way back during his first run, a reporter commented on his jug ears and he had a fit?