Edited by Jason Seligson, Editor at LinkedIn News
BuzzFeed is laying off about 180 staffers, roughly 35% of its workforce. The cuts — which will also eliminate roles across HuffPost and Tasty — come two months after entrepreneur and stand-up comic Byron Allen closed a deal to acquire the entertainment company. Per Variety, in a filing with the Securities and Exchange Commission, BuzzFeed called the restructing necessary to put the business on a "path towards profitability and positive cash flow generation." BuzzFeed is set to release its second-quarter earnings on Aug. 4.
