BuzzFeed to reduce staff by 16% in major cost-cutting move [Los Angeles Times (CA)]
BuzzFeed, Inc. - Class A (BZFD)
Company Research
Source: Los Angeles Times
The online media company also announced the sale of youth-oriented publisher Complex for $108.6 million to L.A.-based live shopping platform NTWRK. The cuts come amid broader turmoil in the media and entertainment industries as companies look to slash costs and streamline their businesses. In a memo to employees, BuzzFeed Chief Executive Jonah Peretti said that roles in the company's business and administrative teams would be affected by the reduction, while groups such as HuffPost, Tech, BuzzFeed Studios, Tasty and First We Feast would not see cuts. “The changes we announced today will enable an exciting next stage for our company, with increased focus on our iconic brands — BuzzFeed, HuffPost, First We Feast and Hot Ones, and Tasty; a more efficient cost structure and operational model; and the ability to accelerate innovation powered by AI and interactive content formats,” Peretti said in a statement. BuzzFeed's stock price closed at 22 cents on the Nasdaq, a fraction of it
Show less
Read more
Impact Snapshot
Event Time:
BZFD
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
BZFD alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
BZFD alerts
High impacting BuzzFeed, Inc. - Class A news events
Weekly update
A roundup of the hottest topics
BZFD
News
- BuzzFeed, Inc. Announces 1-For-4 Reverse Stock Split [Yahoo! Finance]Yahoo! Finance
- BuzzFeed, Inc. Announces 1-For-4 Reverse Stock SplitBusiness Wire
- BuzzFeed, Inc. to Release First Quarter 2024 Financial Results on Monday, May 13, 2024 [Yahoo! Finance]Yahoo! Finance
- BuzzFeed, Inc. to Release First Quarter 2024 Financial Results on Monday, May 13, 2024Business Wire
- My Best Current Micro-Cap Idea: BuzzFeed, Inc. [Seeking Alpha]Seeking Alpha
BZFD
Earnings
- 8/8/23 - Miss
BZFD
Sec Filings
- 5/2/24 - Form 8-K
- 5/1/24 - Form 4
- 5/1/24 - Form 4
- BZFD's page on the SEC website