Pulitzer Prize winning digital media outlet BuzzFeed News is being shut down as part of a cost-cutting drive by its corporate parent that’s shedding about 15% of its entire staff, adding to layoffs made earlier this year.
Award-winning digital media website, BuzzFeed News, will be closing permanently, the company s chief executive officer has revealed in a shock announcement.
Digital advertising has plummeted this year, cutting into the profitability of major tech companies from Google to Facebook. Waves of layoffs have rolled through the tech industry and more are expected.