NEW YORK (AP) — Buzzfeed introduced Tuesday that it has laid off 45 reporters, editors and producers from the newly acquired HuffPost.
HuffPost Government Editor Hillary Frey, the web site’s government editor, and Government Editor Louise Roug additionally resigned over the layoffs, Buzzfeed stated.
The dismissals come simply three weeks after Buzzfeed acquired HuffPost, the media outlet based in 2005 as The Huffington Publish, from Verizon Media.
“We by no means received a good shot to show our price,” the HuffPost union stated in a press release.
In accordance with excerpts launched by the corporate, Buzzfeed CEO Jonah Peretti advised workers at a gathering that “we’ll start to restructure HuffPost at this time to fast-track its path to profitability. Sadly that features employees reductions, and numerous gifted colleagues shall be laid off over the subsequent few days.”
Peretti stated “losses final yr exceeded $20M, and could be related this yr with out intervention. Although BuzzFeed is a worthwhile firm, we don’t have the sources to help one other two years of losses.”
HuffPost Canada shall be shut down below the restructuring.
The union stated the layoffs included practically 30 % of its membership.
“We’re devastated and infuriated, significantly after an exhausting yr of overlaying a pandemic and dealing from dwelling,” the union’s assertion stated.