BuzzFeed, long the darling of native digital publishing models, is hitting its brakes following a weakening of advertising demand, reports MediaPost, which added that the company said “it is laying off about 100 employees in the U.S. — less than 10% of its global workforce — and restructuring its advertising sales organization “amid a tough digital media market.”

“In an email to the company’s staff, CEO Jonah Peretti announced Greg Coleman is stepping down as BuzzFeed’s president and would take on an advisory role.

“BuzzFeed News Editor-in-Chief Ben Smith said cuts will not affect BuzzFeed’s U.S. news team directly.

“The company attributed the attrition to a “tough time” in the broader digital media marketplace, an assertion that doesn’t necessarily ring true based on respected industry tracking sources.

“While digital isn’t expanding at the exponential rates it experienced early in its evolution, it is still experiencing healthy double-digit rates of expansion.”

In another media-related cut, ESPN has laid off around 150 employees in its latest round of job cuts, reports nesn.com, which added that the layoffs “come primarily in the studio production, digital content and technology departments and doesn’t include firings of any on-air talent, according to Yahoo! … ESPN’s November 2017 batch of layoffs is larger than the cuts it made last April, in which several big-name employees were among 100 employees who lost their jobs.”

Leave a Reply

Your email address will not be published.