Far-Left News “BuzzFeed” Cuts 15% of Staff And Shuts Down

 April 21, 2023

BuzzFeed News is finally shutting down, after more than a decade of failure. As a demonstration of BuzzFeed’s ongoing decline, the left-wing company’s stock is currently at 75 cents. In December of 2021, it was $9.61 per share. Ben Smith reportedly launched the news outlet over a decade ago.

A clearly radically left-wing outlet, BuzzFeed News has always been a poor source of journalism or accurate news. Besides being badly written, the news service often attacked conservatives, using unreliable information, often following the Deep State’s narrative. According to John Nolte of Breitbart News -

“In its early days, BuzzFeed News made a cottage industry out of attacking Breitbart News with lies and gossip. You see, they were angry about us telling the truth about them. But the whole thing was biased and dull and doomed from the start. Then, eight or nine years ago, BuzzFeed News fell off the radar entirely until Ben Smith violated every journalistic protocol ever written to publish the Deep State’s phony Russia dossier on Donald Trump”.

-John Nolte, Breitbart News

According to a report this week by CNBC-

“BuzzFeed will lay off 15% of staff and shut down its news unit, BuzzFeed CEO Jonah Peretti wrote in an email to staff Thursday.”

“The layoffs will affect BuzzFeed’s business, content, administration and tech teams. The layoffs amount to about 180 people. The company’s staff totaled about 1,200 people as of its most recent securities filing.”

“BuzzFeed News, part of the digital media company’s content division, had about 100 employees and lost about $10 million a year, two people familiar with the matter told CNBC last year. It stood apart from the main, viral-content-generating BuzzFeed brand with straight news and investigative reporting. BuzzFeed News won a Pulitzer Prize in 2021 for its reporting on China’s mass detention of Muslims. Several large shareholders had urged Peretti to shut down its news operations.”

“Shares of the company have fallen about 90% since its IPO in late 2021. The stock fell nearly 20% Thursday, closing at 75 cents”.

“The news comes during a tough period for digital media companies as publishers are cutting staff as advertisers reduce spending. These cuts have impacted companies like Wall Street Journal publisher Dow Jones and Vox Media. In January, Vice Media restarted its sale process at a lower valuation, CNBC previously reported. The company, which was valued at $5.7 billion in 2017, was poised to fetch a price of below $1 billion.”


Excerpts from BuzzFeed CEO Jonah Peretti’s memo, announcing the cuts and closure read as follows-

“Additionally, I made the decision to overinvest[**] in BuzzFeed News[***] because I love their work and mission so much. This made me slow to accept that the big platforms wouldn’t provide the distribution or financial support required to support premium, free journalism[****] for social media…Just as we reduced our footprint in NYC last year, we will be reducing our real estate in Los Angeles from four buildings to one[.]”

“HuffPost and BuzzFeed Dot Com have signaled that they will open a number of select roles for members of BuzzFeed News…As part of today’s changes, both our CRO Edgar Hernandez and COO Christian Bressler have made the decision to exit the company.”

-Memo From BuzzFeed CEO Jonah Peretti

Not an outlet that will be missed by many other news feeds, save maybe the left - Buzz Feed News, which read more like a tabloid, with often outrageous articles filled with “twaddle”  - is history.  Reportedly, it didn’t even break the Big Media News about BuzzFeed News shutting down. At least there is one less source of leftist double-speak that is not trying to feed America’s mind with misinformation.

“Until you realize how easy it is for your mind to be manipulated, you remain the puppet of someone else's game.”

Evita Ochel
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