BuzzFeed Laying Off 35% of Its Employees After Byron Allen Takes Over Company

By Todd Spangler

Todd Spangler

NY Digital Editor

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BuzzFeed is slashing its workforce on the heels of the digital media company’s deal to sell a controlling ownership stake to entrepreneur and comedian Byron Allen.

The company disclosed that it is laying off about 35% of its current employees and contractors. “The reduction in workforce plan is intended to advance the Company’s path towards profitability and positive cash flow generation by streamlining its organizational structure, optimizing operating expenses, and preserving cash,” BuzzFeed said in an SEC filing Monday.

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