It’s a dark day to work in media. On the heels of news that TechCrunch parent company Verizon Media Group (formerly Oath) would lay off roughly 800 workers, BuzzFeed has announced its own substantial staffing cuts. And though they were anticipated, Gannett also made substantial cuts to newsrooms around the US on Wednesday. In a memo to employees, BuzzFeed CEO Jonah Peretti explained that the layoffs would hit next week, reducing its workforce by 15% or about 250 positions. “Over the past few months, we’ve done extensive work examining the trends in our business and the evolving economics of the digital platforms,” Peretti said in the memo.

Topics:  techcrunch   gannett   buzzfeed ceo jonah peretti   andreessen horowitz   rre ventures   hearst ventures   new enterprise   associates   buzzfeed s    this   hello buzzfeeders   i ll   i ve    i   jonah   i   verizon media group   buzzfeed    peretti    peretti    jonah     over   peretti   nbcuniversal   i m   cut   staff   layoffs   company   work   week   people   memo   future   jobs   news   focus   structure   model   months   employees   tough   worse   trends   good   platforms   developed   workforce   huge   cost   teams   content   growth   support   rounds   process   hope   revenue   
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