BuzzFeed announced deep cuts for the HuffPost newsroom three weeks after acquiring HuffPost from Verizon Media.
Hillary Frey, the site’s executive editor, and Louise Roug, the executive editor for international, will be leaving as part of a restructuring effort aimed at stemming financial losses.
Additionally, HuffPost Canada will also be shutting operations later this month.
BuzzFeed CEO Jonah Peretti told employees that the decision will affect 47 U.S. employees, including eight in management. Peretti further added that the decision was made to “fast-track the path to profitability” for HuffPost, enabling the company to break even this year and start earning profits.
“Though BuzzFeed is a profitable company, we don’t have the resources to support another two years of losses,” Peretti said.
“We want to ensure the homepage remains a top destination on the internet,” he added. “We also want to maintain high traffic, preserve your most powerful journalism, lean more deeply into politics and breaking news, and build a stronger business for affiliate revenue and shopping content.”
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