"We are reducing our workforce by approximately 15 percent today... and beginning the process of closing BuzzFeed News," Peretti wrote in a memo to staff. Peretti said the company had come to the conclusion that it "can no longer continue to fund BuzzFeed News as a standalone organization." Peretti admitted that he had decided "to overinvest in BuzzFeed News because I love their work and mission so much." It received plaudits for its investigative work won a Pulitzer Prize in 2021 for its coverage of the Chinese government's detention of Muslims in Xinjiang. He added that the company would offer some jobs at HuffPost and BuzzFeed.com to BuzzFeed News staff members.

Source: Huffington Post April 22, 2023 00:03 UTC