(Unsplash)
(ZEROHEDGE) – According to a Twitter post by CNN's Oliver Darcy, BuzzFeed's CEO Jonah Peretti told employees via a memo that the company will be reducing headcount by 15% across all departments and shuttering BuzzFeed News.
Darcy tweeted out Peretti's memo to employees, starting with, "I am writing to announce some difficult news. We are reducing our workforce by approximately 15% today across our Business, Content, Tech and Admin teams, and beginning the process of closing BuzzFeed News. Additionally, we are proposing headcount reductions in some international markets."
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Shares of the failed media outlet stumbled by more than 15% on the session.
The post BuzzFeed News shuttering operations, shares plunge appeared first on WND.
