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published in Blogs
Mar 23, 2022
BuzzFeed (BZFD, $5.01) is cutting its workforce of news division

BuzzFeed (BZFD, $5.01) is cutting its workforce of news division

BuzzFeed is shrinking its workforce and shifting the focus of its news division as the digital media company, in a bid to boost its profitability.

The company is offering voluntary buyouts in its 100-person newsroom and some top editors are leaving. They include Mark Schoofs, the editor in chief of BuzzFeed News, Ariel Kaminer, the executive editor for investigations, and deputy editor in chief Tom Namako, who announced a move to NBC News Digital on Tuesday.

Buyouts will be offered to news staffers on the investigations, inequality, politics and science teams, as the company plans to focus more on big breaking news and lighter content.

In addition to the newsroom buyouts, BuzzFeed said it is retrenching 1.7% of its staff.  According to a January filing with securities regulators, Buzzfeed had  1,524 U.S. and international employees – which means,  the cuts would amount to roughly 25 people.

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