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BuzzFeed to Cut About 5% of Workforce

The Wall Street Journal · last updated

BuzzFeed expects to cut about 5% of its workforce as it seeks to streamline its HuffPost news operations.

The company said Wednesday that it anticipates restructuring charges between $1.8 million and $2 million. It expects annual pretax savings of about $4 million.

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Related Knowledge Center: State of the business model

State of Play

The traditional journalism business model has long since collapsed, and news organizations have shrunk or disappeared entirely. While a number of promising experiments are under way, the public has not shown a willingness to buy what news organizations are selling.

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