BuzzFeed Cuts 47 HuffPost Jobs After Acquisition

BuzzFeed slashed 47 positions at HuffPost in Tuesday in one of many firm’s first actions since buying the rival information website in a cope with Verizon Media simply three weeks in the past.
According to HuffPost, BuzzFeed CEO Jonah Peretti stated Tuesday that the cuts have been a part of an effort to “fast-track the path to profitability” for the newly acquired property. A consultant for BuzzFeed didn’t instantly return a request for additional remark.
As a part of the deal introduced final November, Verizon Media has a minority stake in BuzzFeed (*47*)., whereas BuzzFeed controls a media community that now consists of HuffPost, BuzzFeed, BuzzFeed News and Tasty.
Also Read: BuzzFeed-HuffPost Merger Proves Digital Media’s ‘Band Together or Bust’ Dilemma
BuzzFeed News and HuffPost function individually as “distinct news organizations,” in line with the announcement, however Verizon Media and BuzzFeed will even syndicate content material throughout each other’s platforms, which incorporates Verizon’s Yahoo model.
Peretti, who co-founded HuffPost — then known as the Huffington Post — again in 2005, oversees the brand new media community. He can also be main the seek for HuffPost’s subsequent editor — a place that has remained unfilled after Lydia Polgreen stepped down in March to develop into the pinnacle of content material on the podcast firm Gimlet.
Related tales from TheWrap:BuzzFeed-HuffPost Merger Proves Digital Media’s ‘Band Together or Bust’ DilemmaBuzzFeed Acquires HuffPost in Deal With Verizon MediaLydia Polgreen to Leave HuffPost for Gimlet Media
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