BuzzFeed layoffs 2026: Company cuts 35% after Byron Allen deal
BuzzFeed says it will cut about 180 jobs as it seeks savings after Byron Allen’s company bought a 51% stake.
By Bianca Rossi · Entertainment Editor
2 min read
The BuzzFeed layoffs 2026 are hitting hard: the digital media company said in a Monday SEC filing that it is cutting about 35% of its current employees and contractors after Byron Allen’s company took control.
BuzzFeed said the reduction is meant to push the company toward profitability and positive cash flow by reshaping its organization, lowering operating costs and holding on to cash. The move lands shortly after Allen, the entrepreneur and comedian, acquired a controlling ownership stake in the company.
The cuts are expected to wipe out about 180 positions across BuzzFeed, including jobs at HuffPost and Tasty, according to the filing details reported by Variety. The company’s latest annual report said BuzzFeed had 507 employees in five countries as of Dec. 31, 2025.
Why is BuzzFeed laying off employees?
BuzzFeed told securities regulators that the workforce reduction is part of a plan to improve profitability and cash flow. In plain terms, the company is cutting staff to reduce expenses and preserve money after its change in ownership.
The company estimates the layoffs will bring charges of $6.5 million to $8.5 million. BuzzFeed said those costs are expected to be recognized primarily in the third quarter of 2026.
Once the cuts are in place, BuzzFeed expects annualized savings of $29 million to $32 million, according to the SEC filing. Annualized savings means the company is projecting how much lower its costs would be over a full year if the cuts stayed in effect.
What did Byron Allen buy?
Under the agreement between BuzzFeed and Allen’s company, Allen acquired a 51% stake in BuzzFeed for a total purchase price of $120 million. That made his company the controlling owner.
The deal closed in late May, according to Variety. The transaction included $20 million in cash paid at closing and a $100 million promissory note due five years after the closing date.
BuzzFeed said the note carries 5% annual interest. A promissory note is a written promise to pay money later under set terms, which in this case makes up most of the purchase price.
The cuts mark a sharp new turn for BuzzFeed, whose brands include its namesake site, HuffPost and Tasty. The company did not describe in the filing how the eliminated roles would be divided among those divisions, beyond saying the roughly 180 job losses would occur across the business.
The filing frames the move as a cash-preservation step as BuzzFeed tries to tighten expenses under its new ownership structure. For staffers, the numbers are stark: roughly one in three current employees and contractors is being cut.
This story draws on original reporting from Variety.