The 2021 results of the online media, now listed on the stock exchange, disappointed investors.
More than three months after its hectic debut on the Nasdaq, the American online media BuzzFeed is sinking into crisis. Its main shareholders want the skin of its “news” division, losing 10 million dollars a year. They have been calling for the outright closure of BuzzFeed News for a few weeks.
Jonah Peretti, founder and CEO of the pure web player, has chosen to give in partly to the profitability requirements of investors. During the presentation of the group’s results on Tuesday, he announced a plan of thirty voluntary departures, intended for journalists from the political, science, inequality and investigation sections.. “We don’t have the resources to endure another two years of losses on the news, he justified. To be responsible and ensure the long-term future of BuzzFeed News, we need to tackle the costs now.”
Read alsoDropped by investors, BuzzFeed has a rocky start on Wall Street
Faced with continuous losses of its news division, the group has continued over time to reduce its…
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