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BuzzFeed to lay off 100 staffers in major reorganization [The Business Insider]

ALTABA INC (AABA)  More Company Research Source: The Business Insider
US:NASDAQ Investor Relations: altaba.com
PDF BuzzFeed to lay off 100 staffers in major reorganization Buzzfeed employees work at the company's headquarters in New York Thomson Reuters BuzzFeed is set to lay off 100 staffers as the company re-configures its business side and UK bureau after missing revenue targets earlier this year. In an email to employees, CEO Jonah Peretti said that the company was restructuring its business and sales teams as it shifts its advertising revenue strategy. The company announced president Greg Coleman had decided to "take the opportunity to transition into a new role." "As our strategy evolves, we need to evolve our organization, too — particularly our Business team, which was built to support direct sold advertising but will need to bring in different, more diverse expertise to support these new lines of business," Peretti said. "Unfortunately, this means we have to say goodbye to some talented colleagues whose work has helped us tremendously." The UK office is set to hold an all-hands meeti [Read more]

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