BuzzFeed Shareholders <br />Pressured CEO , To Shut Down Its Newsroom.<br />BuzzFeed Shareholders <br />Pressured CEO , To Shut Down Its Newsroom.<br />CNBC reports that unnamed <br />sources claim BuzzFeed CEO <br />Jonah Peretti has been pressured <br />to shutter the entire operation.<br />Instead, BuzzFeed announced on March 22 that it would shrink its operations.<br />This morning we announced plans to accelerate profitability for BuzzFeed News, Jonah Peretti, BuzzFeed CEO, via CNBC.<br />including leadership changes, the addition of a dedicated business development group, and a planned reduction in force, Jonah Peretti, BuzzFeed CEO, via CNBC.<br />We will prioritize investments around coverage of the biggest news of the day, culture and entertainment, celebrity, and life on the Internet, Jonah Peretti, BuzzFeed CEO, via CNBC.<br />Sources say that around 30 employees have been offered company buyouts.<br />BuzzFeed currently employs around 100 people.<br />According to CNBC, the company loses nearly $10 million a year.<br />Peretti has stated in the past that BuzzFeed is “good for the world, good for business, and good for our company culture.” .<br />After BuzzFeed went public in Dec. 2021, stock shares sank nearly 40 percent.<br />Peretti was in a similar position with HuffPost after acquiring the company from Verizon. .<br />Though BuzzFeed is a profitable company, we don’t have the resources to support another two years of losses, Jonah Peretti, BuzzFeed CEO, via CNBC.<br />The most responsible thing we can do is to manage our costs and ensure BuzzFeed — and HuffPost — are set up to prosper long-term. , Jonah Peretti, BuzzFeed CEO, via CNBC.<br />The strategy seems to have worked as HuffPost is reportedly out of the red
