48 Days
Source:
Los Angeles Times
BuzzFeed cuts 35% staff under Byron Allen
BuzzFeed is cutting about 35% of its staff, affecting roughly 180 employees across its brands, following a majority stake acquisition by Byron Allen. The restructuring aims to improve profitability and expand its free streaming content, as the company faces financial challenges including a recent net loss and declining ad revenue. Allen, who also owns other media assets, purchased BuzzFeed in May and now serves as chairman and CEO.
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