BuzzFeed News CEO Says the Outlet Will Close Down

BuzzFeed News , CEO Says the Outlet , Will Close Down .

On April 20, BuzzFeed News announced that the once-iconic media brand will be shutting down.

.

The Daily Beast reports that CEO Jonah Peretti made the announcement in a company-wide memo.

.

We are reducing our workforce by approximately 15% today across our Business, Content, Tech and Admin teams, and beginning the process of closing BuzzFeed News, Jonah Peretti, BuzzFeed News CEO, via The Daily Beast.

We are reducing our workforce by approximately 15% today across our Business, Content, Tech and Admin teams, and beginning the process of closing BuzzFeed News, Jonah Peretti, BuzzFeed News CEO, via The Daily Beast.

The memo also revealed that the company’s CRO, Edgar Hernandez, and COO Christian Baesler would be exiting BuzzFeed in the next few weeks.

The memo also revealed that the company’s CRO, Edgar Hernandez, and COO Christian Baesler would be exiting BuzzFeed in the next few weeks.

The Daily Beast reports that the news comes just months after BuzzFeed laid off 12% of its workforce.

.

That round of layoffs came nine months after Peretti sacked the editor-in-chief and bought out a majority of BuzzFeed News' staff.

According to Peretti, the company will be focusing on artificial intelligence going forward.

.

We will empower our editorial teams at all of our brands to do the very best creative work and build an interface where that work can be repacked and brought to advertisers more effectively, Jonah Peretti, BuzzFeed News CEO, via The Daily Beast.

And we will bring more innovation to clients in the form of creators, AI, and cultural moments that can only happen across BuzzFeed, Complex, HuffPost, Tasty and First We Feast, Jonah Peretti, BuzzFeed News CEO, via The Daily Beast.

The BuzzFeed announcement comes on the same day that another digital media outlet, Insider, announced a 10% reduction of its workforce