BuzzFeed layoffs hit 35% of staff under Byron Allen
BuzzFeed plans to cut 35% of staff and dedicated contractors two months after Byron Allen’s family office bought control of the company.
By Georgia Hale · Staff Writer
3 min read
The latest BuzzFeed layoffs under Byron Allen’s new leadership will cut 35% of staff and dedicated contractors across the company’s brands, according to an SEC filing cited by Deadline.
The move comes about two months after Allen’s family office closed its purchase of a 51% stake in the publicly traded digital media company. Deadline reported that the deal was valued at $120 million.
BuzzFeed has a little more than 500 staffers, according to Deadline. The company’s portfolio includes HuffPost and Tasty, two of the better-known names left in the once-roaring digital publishing boom.
Why is BuzzFeed cutting staff?
BuzzFeed said in its SEC filing that the workforce reduction is meant to push the company toward profitability and positive cash flow. The company said the plan involves simplifying its structure, cutting operating costs and conserving cash.
In a staff memo obtained by Deadline, the BuzzFeed Leadership Team said the changes were needed to put the business on a track for profitable and sustainable growth.
The memo said the company had been working on cost controls for some time and had reviewed options to preserve as many jobs as possible. It said some roles still had to be eliminated and that the cuts would affect positions across the company.
The filing and memo did not identify which specific teams, brands or job categories would take the largest hits, according to Deadline’s report.
What changed after Byron Allen bought control?
Allen’s family office acquired 51% of BuzzFeed’s outstanding shares, giving him control of the company. Allen is now chairman and CEO, Deadline reported.
BuzzFeed founder Jonah Peretti moved into a new role as president of BuzzFeed AI after the transaction, according to Deadline.
The company’s leadership memo also pointed to free streaming as a growth area. It said BuzzFeed Studios will operate as its own entity while remaining consolidated under BuzzFeed, Inc.
According to the memo, that structure is intended to help the company make better use of its broader portfolio and attract additional investment.
What does this mean for BuzzFeed?
BuzzFeed is trying to reshape itself around a slimmer cost base while keeping its major brands and production operations under one corporate roof. The company’s filing frames the cuts as part of a cash-preservation plan, while the leadership memo casts them as part of a push toward growth.
The decision lands after years of pressure across digital media, where publishers have faced tighter ad markets, changing platform traffic and repeated rounds of cuts. Deadline’s report did not include a public comment from individual affected employees.
For workers, the immediate impact is clear: BuzzFeed is eliminating roles across the business. For Allen’s team, the cuts mark one of the first major moves since taking control of the company.
This story draws on original reporting from Deadline.