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BuzzFeed to cut Australian positions

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UPDATED | Digital news outlet BuzzFeed will cull a quarter of its modest Australian workforce as part of a global cost-cutting exercise.

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“BuzzFeed management have informed us that 25 roles in Australia are facing redundancy,” BuzzFeed Australia general manager Simon Crerar Tweeted today.

He later clarified that 25 people would be consulted with a view to culling a total of 11 positions, all of them in Sydney.

The outlet currently employs about 40 people in Australia.

The company announced last week that it would shed 200 jobs, or 15 per cent of its global workforce.

BuzzFeed CEO Jonah Peretti sent a note to employees last week, saying the layoffs would help the company avoid having to again hit up investors for more money.

The privately held company, based in New York, has not been profitable for several years and has raised hundreds of millions from investors.

After news of the Australian job cuts, a BuzzFeed spokesperson said: “We’ve built a strong brand, loyal audience, and growing business in Australia.

“BuzzFeed remains committed to building on that foundation for the long-term.”

US President Donald Trump, who regularly rails against what he calls “fake news”, blamed job cuts at BuzzFeed and another news outlet, HuffPost, on “bad journalism”.

BuzzFeed is best known for its viral posts and quizzes and in recent years has ploughed significant resources into its news division.

– AAP

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