Buzzfeed, best known for producing viral list articles, is cutting 250 jobs, 15 per cent of its workforce AlamyBuzzfeed, the news website that pioneered the “listicle”, is cutting about 250 staff after its digital advertising revenues fell short of expectations. Jonah Peretti, founder and chief executive, blamed the “evolving economics” of digital publishing for the 15 per cent cut to its workforce. Founded in 2006, Buzzfeed is among a clutch of upstarts aiming to shake up the news industry. It is best known for producing viral list articles, such as “20 Ridiculously Inappropriate T-Shirts For Babies”. The cuts raise further questions over the durability of advertising-funded digital news, which have reduced the valuations of Vice Media and Vox Media.

Source: The Times January 25, 2019 00:00 UTC