BuzzFeed is laying off 100 workers, 8% of its U.S. employees, after missing revenue target

Thursday, 30 November 2017, 03:22:14 PM. Digital media company BuzzFeed is cutting 8% of U.S. employees, or 100 jobs, as changes its business model in a bid to boost revenue. It's also cutting an unspecified number of U.K. jobs.

Digital media company BuzzFeed said it is laying off 8% of its U.S. employees, or 100 workers, as it changes its business model in a bid to boost revenue.

It's also cutting an unspecified number of jobs in Britain. The company has 1,700 employees worldwide.

A spokeswoman for New York-based BuzzFeed confirmed the layoffs Wednesday. They were first reported by the Wall Street Journal.

In a memo to employees, BuzzFeed Chief Executive Jonah Peretti said the jobs being cut in the U.S. were all on the business side of the company. The U.K. cuts include editorial jobs.

Peretti said BuzzFeed no longer relies on just “native” ads and needs a different kind of sales team. Native ads are content created for advertisers that look similar to BuzzFeed's popular, often snarky videos, lists and quizzes. BuzzFeed is shifting to selling traditional digital ads on its website and has other revenue strategies.

The Journal said BuzzFeed missed its revenue target for this year.

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Matt Lauer was fired from his post at NBC’s “Today” on Wednesday after the company said it received a complaint about the co-anchor concerning “inappropriate sexual behavior in the workplace.”

Matt Lauer was fired from his post at NBC’s “Today” on Wednesday after the company said it received a complaint about the co-anchor concerning “inappropriate sexual behavior in the workplace.”

NBC fires 'Today' host Matt Lauer for 'inappropriate sexual behavior' CAPTION

Matt Lauer was fired from his post at NBC’s “Today” on Wednesday after the company said it received a complaint about the co-anchor concerning “inappropriate sexual behavior in the workplace.”

Matt Lauer was fired from his post at NBC’s “Today” on Wednesday after the company said it received a complaint about the co-anchor concerning “inappropriate sexual behavior in the workplace.”

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Nominations for the 60th Grammy Awards were announced Tuesday. A federal judge sided with President Trump in a dispute over the Consumer Financial Protection Bureau. The accused mastermind of the 2012 Benghazi attacks was convicted of terrorism-related charges. North Korea test-launched a ballistic missile for the first time since September. 

Nominations for the 60th Grammy Awards were announced Tuesday. A federal judge sided with President Trump in a dispute over the Consumer Financial Protection Bureau. The accused mastermind of the 2012 Benghazi attacks was convicted of terrorism-related charges. North Korea test-launched a ballistic missile for the first time since September. 

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Meghan Markle has been an actress, a blogger and a humanitarian, and now is engaged to Prince Harry. Mick Mulvaney moved swiftly to take control of the Consumer Financial Protection Bureau. Sexual harassment allegations continue to roil the California political landscape. This is where the Grammys are born. 

Meghan Markle has been an actress, a blogger and a humanitarian, and now is engaged to Prince Harry. Mick Mulvaney moved swiftly to take control of the Consumer Financial Protection Bureau. Sexual harassment allegations continue to roil the California political landscape. This is where the Grammys are born. 

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The largest residential building boom in Latin American history has become a social and financial catastrophe for millions of Mexicans who bought homes in troubled developments, while some investors and construction executives reaped enormous profits. (Video by Jessica Q. Chen / Los Angeles Times)

The largest residential building boom in Latin American history has become a social and financial catastrophe for millions of Mexicans who bought homes in troubled developments, while some investors and construction executives reaped enormous profits. (Video by Jessica Q. Chen / Los Angeles Times)

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Senate Republicans want to use the tax bill to repeal the mandate that Americans have health coverage. Rep. John Conyers stepped down Sunday as ranking member of the House Judiciary Committee. Mexico launched a massive residential building boom in 2001. One of the nation's most liberal federal appeals court judges died Saturday.

Senate Republicans want to use the tax bill to repeal the mandate that Americans have health coverage. Rep. John Conyers stepped down Sunday as ranking member of the House Judiciary Committee. Mexico launched a massive residential building boom in 2001. One of the nation's most liberal federal appeals court judges died Saturday.

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