Digital media company BuzzFeed is cutting 8 percent of U.S. employees, or 100 jobs, as changes its business model in a bid to boost revenue. It's also cutting an unspecified number of U.K. jobs. In a memo to employees, BuzzFeed CEO Jonah Peretti said the jobs being cut in the U.S. were only on the business side. He says BuzzFeed no longer relies on just "native" ads and needs a different kind of sales team. BuzzFeed is shifting to selling traditional digital ads on its website and has other revenue strategies.

Source: ABC News November 29, 2017 17:58 UTC