BuzzFeed plans to eliminate 100 jobs, or about 8 percent of its workforce, according to a person familiar with the matter, as the online publisher feels the effects of an industrywide slump in advertising.
The company will fire marketing, advertising and creative workers in the U.S. and U.K., Chief Executive Officer Jonah Peretti said in a memo Wednesday. Greg Coleman, who has been president of BuzzFeed for the last 3 1/2 years, will become a senior adviser, and BuzzFeed will begin a search for a new chief operating officer, Peretti said.
BuzzFeed and publishers from Time Inc.